Would You Transfer Money on Facebook?

You should be able to send cash over Facebook Messenger soon.

The Facebook Newsroom announced today its plans to introduce a new feature that will allow users to send each other money via the Facebook Messenger app. Messenger-to-Messenger payments will roll out over the next few months.

Related: 10 Funny Facebook Fails

Does that make you anxious? Facebook is ‘a dependable and trusted payments processor for game players and advertisers since 2007,’ the newsroom said and, hence, is equipped to handle your money safely. You can add extra layers of security to your Facebook Messenger app (like a 4-digit PIN) and enable Touch ID if you’re still nervous.

Related: Facebook Replaces Fat Emoji (Let’s Not Get Too Excited)

To send money, you will start a new message with a friend, tap the ‘$’ icon, enter how much you want to pay, and hit pay. To receive a payment from someone, you open the conversation they’ve started with you, add your debit Visa or MasterCard, and accept. Facebook isn’t yet accepting credit cards because it wants to minimise fraud and fees in the beginning, according to Mashable.

Facebook product manager Steve Davis tells Re/code that the site is not looking to make a profit from this new feature. The idea actually came as a solution to a problem: ‘We realised that there were all these conversations [on Messenger] that were forced to go somewhere else in order to actually finish,’ he said. ‘You had to go to another platform to actually pay another person.’

Related: 11 People You Should Unfriend on Facebook

Or you had to open your wallet! Remember that?

This article was originally published on Cosmopolitan.com

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