!!

Welcome Guest

You are viewing this forum as a guest therefore You are Not Allowed to Post and Reply and You are not allowed to view links. Register or Login

collapse

* Search


* Recent Replies

e-commerce website by [Not Shown, Login to View]
[Yesterday at 04:36 PM]


How To Get Web Traffic From Social Media by [Not Shown, Login to View]
[Oct 15, 2018]


Site contributor click in Google Ads by [Not Shown, Login to View]
[Oct 14, 2018]


my first website online by [Not Shown, Login to View]
[Sep 30, 2018]


Website Showcase - Drop Your Website Link(s) Here by [Not Shown, Login to View]
[Sep 19, 2018]


How to Apply for Payoneer Card and US Payment Service to Receive Amazon & others by [Not Shown, Login to View]
[Sep 19, 2018]


Ads plugins by [Not Shown, Login to View]
[Sep 14, 2018]


European Union laws by [Not Shown, Login to View]
[Sep 14, 2018]


price for a web design project by [Not Shown, Login to View]
[Sep 12, 2018]


WordPress on whogohost by [Not Shown, Login to View]
[Sep 07, 2018]


User ID Pageviews Plugin by [Not Shown, Login to View]
[Sep 07, 2018]


facebook ads by [Not Shown, Login to View]
[Sep 07, 2018]


How to Start Amazon affiliate marketing by [Not Shown, Login to View]
[Sep 07, 2018]


Possibility of Monetizing YouTube using a Nigerian postal address,etc ? by [Not Shown, Login to View]
[Sep 07, 2018]


Can I Build an Ecommerce Site Using Blogger? by [Not Shown, Login to View]
[Sep 04, 2018]


Creating public opinion poll on a website by [Not Shown, Login to View]
[Aug 17, 2018]


Add A Second Admin To Word press Site by [Not Shown, Login to View]
[Aug 17, 2018]


Google page ranking discontinued. by [Not Shown, Login to View]
[Aug 17, 2018]


Amazon registration in becoming an affiliate 2016 by [Not Shown, Login to View]
[Aug 17, 2018]


How to become a money maker agent by [Not Shown, Login to View]
[Aug 10, 2018]


Adding Widget to Feedburner by [Not Shown, Login to View]
[Aug 02, 2018]


Am sorry for my long break,am happy am back by [Not Shown, Login to View]
[Jul 18, 2018]


Another Course Update - Introducing Fast Track M.O.B by [Not Shown, Login to View]
[Jul 17, 2018]


Pop up ads wordpress plugin by [Not Shown, Login to View]
[Jul 14, 2018]


Information on Google Adwords by [Not Shown, Login to View]
[Jul 13, 2018]


Can I embed Images in my Blog Along With Adsense? by [Not Shown, Login to View]
[Jul 13, 2018]


Amount of Disc Space for A News Site by [Not Shown, Login to View]
[Jul 13, 2018]


Which Chamber, 1, 2 or 5? by [Not Shown, Login to View]
[Jul 13, 2018]


Amazon Identity Verification by [Not Shown, Login to View]
[Jul 13, 2018]


Building With WordPress: Can't find some plugins by [Not Shown, Login to View]
[Jul 13, 2018]

Author Topic: Facebook Messenger Lets You Send Cash to Friends  (Read 697 times)

0 Members and 1 Guest are viewing this topic.

Offline [Not Shown, Login to View]

  • Forum Guide
  • Level 4 (Dedicated)
  • ******
  • Posts: 1056
  • Respect: +270
  • Gender: Male
  • Location: Ibadan, Oyo State of Nigeria
  • 1st Chamber
  • My Rank: 88
Facebook Messenger Lets You Send Cash to Friends

Social networking giant Facebook on Tuesday entered into the mobile payments fray with a new service connected to its Messenger app. With the new payments feature, you can do more than send messages and emoticons to your friends -- you can send cold hard (digital) cash.

Facebook is positioning the feature as a “more convenient and secure way” to send and receive money between friends. The free service will start rolling out in the U.S. in the months ahead. With 500 million monthly users, Facebook potentially has a strong head start in the mobile payments space.

“A dependable and trusted payments processor for game players and advertisers since 2007, Facebook processes more than one million transactions daily on the site and also handles all the payments processed on Messenger,” the company said in a statement. “Incorporating security best practices into our payments business has always been a top priority.”

Facebook Promises Secure Payments[

Here’s how it works: To send money, just start a message with a friend. Tap the $ icon and enter the amount you want to send. Then tap “Pay” in the top right and add your debit card to send money. Once you’ve added your Visa or Mastercard debit card, you can create a PIN to offer more security the next time you send money.

To receive money, open the Messenger conversation from your friend and tap the “Add Card” in the message. Then add your debit card to accept money for the first time. The money is transferred right away, but Facebook noted it could take one to three business days to see the funds hit your account, which is standard.

“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 softwareand hardware protection that meet the highest industry standards,” Facebook said. “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.”

Moving Into E-Commerce?

Although this doesn’t directly compete with Apple Pay and Samsung Pay, it does tap into a potentially lucrative mobile payments trend. The U.S. mobile payments market is set to boom by 2019, according to market research firm Forrester Research Inc. Forrester is predicting it will hit $142 billion by then. Facebook is competing more against the likes of Venmo, which PayPal owns. And e-commerce startup Square offers similar functionality in its app -- it allows payments to people via e-mail.

We caught up with Greg Sterling, vice president of Strategy and Insight at the Local Search Association, to get his thoughts on Facebook’s move. He told us peer-to-peer payments is a logical market for Facebook to enter.

“This project was launched under the leadership of David Marcus, who used to run PayPal. I suspect it will be popular and successful, especially outside the U.S.,” said Sterling. “Facebook has been processing payments in one form or another since 2007. However, this may be the beginning of a broader move into online and e-commerce payments and perhaps, one day, into mobile payments in the real world.”

Source:http://business.newsfactor.com/news/Send-Cash-with-Facebook Messenger/story.xhtml?story_id=103009IJYG6H


Knowledge Is Power – Seek For It

 

Related Topics

  Subject / Started by Replies Last post
3 Replies
822 Views
Last post Jul 05, 2012
by [Not Shown, Login to View]
I need more enlightenment about Cash Envoy

Started by [Not Shown, Login to View] Online Businesses

2 Replies
869 Views
Last post Nov 30, 2012
by [Not Shown, Login to View]
Can I tell my friends after Google approved

Started by [Not Shown, Login to View] General Questions

2 Replies
758 Views
Last post May 29, 2014
by [Not Shown, Login to View]
3 Replies
967 Views
Last post Apr 17, 2015
by [Not Shown, Login to View]
10 Replies
1851 Views
Last post Jun 13, 2018
by [Not Shown, Login to View]

TinyPortal © 2005-2011
SimplePortal 2.3.5 © 2008-2012, SimplePortal