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By Josh Constine

 

Facebook Messenger is all set up to allow friends to send each other money. All Facebook has to do is turn on the feature, according to screenshots and video taken using iOS app exploration developer tool Cycrypt by Stanford computer science student Andrew Aude. Messenger’s payment option lets users can send money in a message similar to how they can send a photo. Users can add a debit card in Messenger or use one they already have on file with Facebook, and set an in-app pincode for added security around payments.

It’s unclear whether Facebook will monetize Messenger by charging a small fee for money transfers, or offer the functionality for free to drive usage of its standalone chat app. That will be up to David Marcus, the new head of Messenger who was formerly the president of PayPal. Why Facebook chose to poach Marcus is now obvious: Facebook Messenger payments could compete with Venmo, PayPal, Square Cash, and other peer-to-peer money transfer apps.

 

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Hello Webrooters,,

 

Really can we trust Facebook with our money transactions? I'm not going for this until it's proven safe! A long ways to go with this idea and this article is very interesting I must say. It's a must read in my book!
Well I would not trust it at all. But not only that, it is a simple fact that the more companies that hold your banking info the more chance of a hack happening against you.

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