Facebook Messenger could soon get money transfer feature

Facebook Messenger could soon get money transfer feature

After getting voice calling and stickers, Facebook Messenger is now in a rumour to soon get money transfer feature which will allow users to send money to their friends right from the instant messaging app. The money transfer feature is likely to be initially available in the US and would debut on the iOS version of Messenger.

As first reported by TechCrunch, Stanford computer science student Andrew Aude has leaked out the hidden feature of Facebook Messenger using iOS app exploration tool Cycript. Aude posted some screenshots and a video on its Twitter account to show money transfer feature on Facebook Messenger for iOS.

These screenshots suggest that users would send money to their friends in a similar way as they send a photo. The only difference the screenshots show is that the Messenger will give users option to choose their debit card. Users can also add a new debit card from the Messenger app.

The spotted feature in Facebook Messenger works through an in-app code which add a security layer for enabling online payments.

It is unclear that Facebook would charge an amount for transferring money on its Messenger but Aude speculates that each transaction will cost the social network around $0.40 to $0.50 that hints a transaction charge of $1.

Though Facebook is yet to released an official note on the money transfer feature on its Messenger app, the appointment of former president of PayPal David Marcus, which was announced in June, hints the availability of the new feature. There is an expectancy that the social network would try out the money transfer feature on a small group of its users, likely to be in the US.

The availability of money transfer within Facebook Messenger would take on other instant messengers such as LINE, WhatsApp and WeChat. Moreover, the ability to transfer payments through instant messages would distinguish the Messenger from the vast world of instant messaging apps.

Categories: Rumours