Facebook announced yesterday that it has added a new feature to Messenger that gives people the freedom to send or receive money securely. The company said the feature will be rolling in the US in the coming months. The service is expected to be free though there is no news about when the service will be available in other countries, including India.
The new service will do away with the need of using third party companies like PayPal, atleast that seems to be Facebook’s idea. To use the service, users need to start a message with a friend and tap the $ icon to enter the amount then tap ‘Pay’ and add the debit card.
“Incorporating security best practices into our payments business has always been a top priority. We use secure systems that encrypt the connection between you and Facebook as well as your card information when you ask us to store it for you. We use layers of software and hardware protection that meet the highest industry standards. These payment systems are kept in a secured environment that is separate from other parts of the Facebook network and that receive additional monitoring and control. A team of anti-fraud specialists monitor for suspicious purchase activity to help keep accounts safe,” said Facebook in a statement.