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> World

Facebook turns Messenger app into digital wallet

Facebook’s new feature carries zero transaction fees

Newsroom March 18 04:44

Facebook has recently unveiled a new feature that promises to make users’ life easier, by allowing them to send money to each other through the company’s standalone app, Messenger.

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The peer-to-peer payment works in a simple, yet effective way. For the users to be able to use this feature, all they have to do is link their debit card to their Facebook account. Then, they will be able to transfer money by pressing a small “$” icon above the keyboard.

This icon opens a screen where the user can type the amount he wants to be sent to the other user’s bank. If the recipient doesn’t have a card linked to his or her account, Facebook will hold the money until this process is completed.

Facebook’s new feature carries zero transaction fees and, according to the social networking company’s announcement, all debit card info will be safely stored on Facebook servers.

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