Select a region
Do you ‘Like’ your Facebook friends enough to lend them money if they need it?
If so Facebook’s latest update to Messenger could be what you’re looking for, because over the coming months the social network will be adding the ability to send money via the app to its instant messaging service.
For now this is only in the US, but it’s likely this will be for a trial period before a full rollout. Here’s the key details we know so far.
1. You’ll need to register a card with your Facebook account the first time you use the service.
After that you can create and then use a PIN in order to confirm transactions from your account.
2. Touch ID has been enabled for iOS users
If you have an iPhone 5S or newer, or an iPad Air 2, Facebook confirmed it will be possible to complete transactions with friends by using the fingerprint scanner.
3. Facebook is taking security around this update very seriously.
This is what they said on the matter.
“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.”
4. The site already processes more than a million transactions a day.
Though the payments in Messenger feature is not yet active, Facebook has been quick to point out that it is no stranger to dealing with finances, thanks to its mobile gaming platform and through advertisers. It’s their way of saying they know what they’re doing.
5. It’ll work on desktop too.
In addition to being a handy tool for mobile users, the update will also be pushed to desktops too, meaning you’ll be able to do all this on your laptop as well.
