Facebook’s money transfer feature, released on March 17, is equipped with security features to make it safe to send money online and it is open to the US users in its initial phase, followed by expansion all over the world.
With this feature, facebook will join global rivals PayPal, Venmo, and Snapchat. Facebook said the feature is available on Apple and android phones and on desktop computers free but it is confined to using debit cards.
How to send?
Facebook Messenger users should first select “$” icon next to the buttons meant for sending photos, stickers or a thumbs up sign. There the amount to send should be entered and then press “PAY” button on the top right corner. Then it will ask you to enter your debit card number. The recipient should also enter the card number to receive money for the first time.
Once the debit card number is added, the user can create a pin number that should be remembered and used every time you want to send money to somebody. Facebook said it has tested the feature making a million payments transactions on its site every day for its advertisers and game players.