May 28, 2015
Social Network Updates Payment System to Make Process Easier
If you live in the New York City metro area, you can now use Facebook’s Messenger app to send money to friends for free.
Facebook has gradually been rolling out the Messenger payment service to iOS, Android and desktop users in the U.S. with those in Seattle, Portland and Austin, Texas being the first to receive access to the app.
Now New York City has been added to the list and others cities will be added over time, Facebook announced Wednesday.
The social network also announced some updates to the payments feature.
After the payment function is installed, users used to tap the ‘$’ icon and enter the amount they wished to send. The user then clicked ‘Pay’ in the top right to add his or her debit card details to conclude the transaction.
Now, dollar amounts are automatically hyperlinked after the sender taps ‘$’ and will commence payment for the amount to the recipient. The sender can confirm the payment is correct before it is sent.
Another update is, if a user is in a group conversation, he or she can now pay another person in the group without having to leave the conversation.
“The money you send is transferred right away,” Facebook said in a blog post back in March, when it first introduced the Messenger payment feature. “It may take one to three business days to make the money available to you depending on your bank, just as it does with other deposits.”
The first transaction will also require a user to add a Visa or MasterCard debit card issued by a U.S. bank to his or her account.
Users must then create and add a PIN which offers additional security. iPhone users can enable Touch ID if they wish.
Facebook said it is incorporating security best practices into its payments business.
“We use secure systems that encrypt the connection between you and Facebook as well as your card information when you ask us to store it for you,” the company said. “We use layers of software and hardware protection that meet the highest industry standards. These payment systems are kept in a secured environment that is separate from other parts of the Facebook network.”
A team of anti-fraud specialists monitor the payment systems regularly for suspicious purchase activity to help keep accounts safe.
Jennifer Cowan is the Managing Editor for SiteProNews.