Facebook offers mobile payments in UK

Facebook offers mobile payments in UK

Messenger has also been built upon by other firms to provide similar services.

To use the feature, Facebook Messenger users need to enter their debit card details into the app, this then enables them to instantly transfer money via a message.

The person to person service first launched in the United States of America back in 2015 and is popular among users for splitting restaurant bills, paying babysitters, or just sending money to friends. Additionally, Apple has its own Venmo-like money transfer service in the works that's due to be released sometime this fall.

Marketplace has helped propel Facebook's stature as a last-click social commerce site, with almost 48% of social media users in the USA reporting they made their most recent purchase from Facebook, according to a recent Open Influence study, putting the platform ahead of Instagram, YouTube and Pinterest. The company has over 2 billion active users, and 1.2 billion use its Messenger platform, dwarfing even the 900 million users of the massively successful WeChat platform in SE Asia.

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Sending and receiving dosh with Messenger sounds like a dawdle, according to Facebook's instructions.

Here's how you can send a payment via Facebook Messenger. In the U.S., popular services include Venmo, Square Cash, and Facebook Messenger. "Finally, Messenger payments are offered as a regulated payment service, meaning they're directly subject to consumer protection requirements". It may take one to three business days to make the money available to the recipient depending on their bank, just as it does with other deposits.

So you'll be able to link when you sent over money to the relevant conversation with that person and also avoid the embarassment of having to chase them up for money if they owe you.

Other firms in the USA market include Square, which lets users swap money via its "Cash" app, and Paypal, which acquired payment service Venmo.

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