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F8 Effect: Transfer money with Facebook Messenger

F8 Effect: Transfer money with Facebook Messenger Messenger
F8 Effect: Transfer money with Facebook Messenger

It seems that Facebook is preparing to announce some new features of its app, revealing to us the big plans it has for Messenger such as chatbots, videos or something more useful like money transfers. 

While the feature is currently only available in the US, it is expected to be rolled out to other countries soon. Below are the steps on how you will be able to conduct a money transfer via Messenger in the near future:

Step 1)

Transfers through the app require a debit card on both sides. However, there is no charge for using the service. It offers PIN-based protection and what Facebook itself calls “industry-leading security” standards. You will need to add your debit card first to start the process. For the Android app, you will need to tap the profile icon and then scroll down to payments to add the card. On the other hand, for the iOS app, you will need to click on Settings, and then Payments. Click on Add New Debit Card and complete the process.

Step 2)

Once you insert the card, open a new chat with the person you want to transfer the money to, or the person you want to ask to transfer money to you. Click on the little “more” icon in the toolbar, which is the icon with the three dots in the rectangular box, and continue.

Step 3)

When you enter the Payments sub-menu, click next and enter the desired amount on the Pay screen and then click Pay to complete the transfer. On the other hand, the user must have already added their card to their account for the process to be considered successful.

Step 4)

Instead of clicking the 'Pay' option in the Payments sub-menu, you need to click 'Request' and enter the amount and then finish the process. This is in case you want to request money from one of your contacts. The money transfer will appear as an embedded file in the line of the already existing chat. At this point, by simply clicking on the file the recipient will be able to either accept or reject the transfer of the amount you requested.

What do you think of this new feature? Will you use it? Let us know in the comments below!

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