Facebook Launches Payment Platform to compete against PayPal and Venmo


When you chat with friends about settling debts or splitting the bill, Facebook doesn’t want you to have to open another app like PayPal or Venmo to send them money. So today it unveiled a new payments feature for Facebook Messenger that lets you connect your Visa or Mastercard debit card and tap a “$” button to send friends money on iOS, Android, and desktop with zero fees. Facebook Messenger payments will roll out first in the U.S. over the coming months.

 
Send Money to Friends in Messenger from Facebook on Vimeo.

TIPS

To send money:
1.Start a message with a friend
2.Tap the $ icon and enter the amount you want to send
3.Tap Pay in the top right and add your debit card to send money

To receive money:
1.Open the conversation from your friend
2.Tap Add Card in the message and add your debit card to accept money for the first time

The money you send is transferred right away. It may take one to three business days to make the money available to you depending on your bank, just as it does with other deposits.

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