Facebook starts Money Transfer service
Facebook
The free service will be offered in the coming months.
- Getty Images
Facebook announced on Tuesday that it will launch a system to send money to friends, aimed at customers in the US who use their instant messaging application for smartphones.
The free service will be offered "in the coming months," according to a statement from Facebook, and social network will compete with services like Cash and Venmo Square.
The money transferred use debit cards Member for fast transfer of money, which could take up to three days depending on the bank, said Facebook.
This social network and manages a considerable amount of payments through its advertising platform for games.
"Facebook It processes more than one million daily transactions in the portal and also handles all payments processed with Messenger," he said in the statement.
"We use secure systems that encrypt the connection between you and Facebook, as well as card information when we asked that we keep about you".
It is still unclear whether Facebook will be able to generate profit for these transfers of money between friends, but the application could initiate an extensive network of highly profitable payments.
The courier Snapchat also offers a similar service in partnership with Square Cash.
The free service will be offered in the coming months.
- Getty Images
Facebook announced on Tuesday that it will launch a system to send money to friends, aimed at customers in the US who use their instant messaging application for smartphones.
The free service will be offered "in the coming months," according to a statement from Facebook, and social network will compete with services like Cash and Venmo Square.
The money transferred use debit cards Member for fast transfer of money, which could take up to three days depending on the bank, said Facebook.
This social network and manages a considerable amount of payments through its advertising platform for games.
"Facebook It processes more than one million daily transactions in the portal and also handles all payments processed with Messenger," he said in the statement.
"We use secure systems that encrypt the connection between you and Facebook, as well as card information when we asked that we keep about you".
It is still unclear whether Facebook will be able to generate profit for these transfers of money between friends, but the application could initiate an extensive network of highly profitable payments.
The courier Snapchat also offers a similar service in partnership with Square Cash.
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