The ability to send cash quickly and easily has seen a boom in recent months. Aside from mobile wallet services like Square Cash or Google Wallet, we’re now seeing it creep into messaging services like Snapchat and today, Facebook.
Using Facebook on the desktop or Messenger for Android and iOS, users in the US will now be able to send money to friends or loved ones inside as easily as sending a text message. Facebook decided to go with debit cards — for both sending and receiving (after creating a PIN) — so that users can avoid those transaction fees. Free is good. As usual, money being transferred is nearly instant, taking a few business days depending on your bank of choice.
We know, Facebook already knows just about everything about you and providing them with your credit card info may not sound like the best idea to some folks. In their announcement post, Facebook reminds users they have been processing payments for gamers and advertisers since ’07. In other words — they know what they’re doing.