Facebook has added the ability for friends to send money to each other using the Facebook Messenger app.
Some users in the United States can now send and receive money using the chat app, which will take 1-3 days to appear in the user’s bank account.
To make use of the service, social senders need to register their Visa or MasterCard debit card information in order to transfer cash.
Facebook users will also need to set up a pin to secure their account. iOS users can add Touch ID authentication to further shore up their account.
The social network is using its own payments processor for the transactions, which has been facilitating payments to game players and advertisers since 2007. The firm says it is already processing over one million payments every day.
Explaining the security of the service, Facebook wrote (via The Verge): “Incorporating security best practices into our payments business has always been a top priority. We use secure systems that encrypt the connection between you and Facebook as well as your card information when you ask us to store it for you.
“We use layers of software and hardware protection that meet the highest industry standards. These payment systems are kept in a secured environment that is separate from other parts of the Facebook network and that receive additional monitoring and control. A team of anti-fraud specialists monitor for suspicious purchase activity to help keep accounts safe.”
The service will be available across the US in the coming months on Android, iOS and Desktop.