Facebook has introduced a new feature in its Messenger app that allows users to send payments to their friends.

When this new feature rolls out in Facebook Messenger, a new dollar sign/button appears between the Like button and the voice message button. Once pressed, the user enters an amount, taps the Pay button, and adds debit card information. The money is transferred instantly, but it may not appear until up to three business days on the receiving bank.

To accept the money, the recipient only needs to open his Facebook Messenger conversation with the sender. First-time recipients must add their debit card information to accept money.

Facebook has implemented security measures to ensure that its payment system won’t be used for fraudulent activities and that all bank information it stores are encrypted. Users must also create and enter a PIN when sending money. IPhone users can take advantage of TouchID.

This new payment feature will be available for the Android, iOS and desktop versions of Facebook Messenger. There’s no word yet if it’s going to be available on the Windows Phone version of the app.

[Source: Facebook]

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