Starting today, a new feature will steadily appear on your Facebook over the upcoming months which allows for a user to send money to friends directly through the chat. The new feature will be available on iOS, Android and the web, and will work in a similar way to that of PayPal and Venmo.
The new feature will be built straight into the messenger app, allowing instant access to all your contacts through your Facebook friends, and since most people have a Facebook account, it makes it even easier that having to swap bank details or email addresses. It’s literally as simple as having them added as a friend.
There are many who are sceptical as to the security that may come with this new feature rollout, however the fact it removes the need to join a new service to send payments and is directly through the messenger app certainly makes it appealing.
The feature will allow bills rent and even dinner to be paid for just through adding a credit card to the account, putting them head to head with companies such as Venmo who offer the same service through an additional service. Although this may create a new hurdle for the likes of Venmo, it’s not a goodbye just yet. With a strong customer base behind it, Venmo certainly has customer loyalty on its side, however it may begin to feel the pinch when the feature is finally fully available.