When Facebook revealed the availability of payments via its Messenger app, consumers and financial institutions raised new mobile payment system security concerns regarding data breaches and fraudulent transactions.
Facebook made the announcement that end-users could soon use its Messenger app to send money on March 17, 2015. The service will be free to use, compatible with debit cards, and available through Apple and Android mobile devices as well as desktop computers.
To send money, Messenger users will tap a new "$" icon in the app's menu. Then, they'll enter the amount to send, tap "pay" in the top right corner and enter a debit card number. The user can also enter a pin code for future fund transfers.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
