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.
Facebook And PayPal: Frenemies?
Rather than lean on a payments company like PayPal to power the feature, Facebook built it from the ground up from its experience processing over 1 million payments a day through its ads and games platforms. Transactions and payment info are encrypted, and Facebook says “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,” from an anti-fraud team.
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