Facebook Messenger is one such application available in Facebook to chat with friends. How do you feel when this can be used to transfer money between friends on Friend’s Circle? Most of us may think this as a joke. But it is not so. Facebook Messenger can be used to transfer money between friends, just like transferring fund through Internet Banking.
Let’s see how this works. Click on labeled “$” icon and type the amount that you want to pay. Finally click on Pay button. The said amount will be debited from your bank account. But it may 2-3 days of delay to credit the same in recipient’s bank account. The exchange of money became possible only by the debit plastic card or credit plastic card, added to respective Facebook profile of the user. Once you have added either debit card or credit card, you will have to create a profile with new username and password. This username and password should be entered each and every time you make a transaction. Apple iPad and iPhone users can enhance the security by enabling Touch ID inorder to handle added security.
Most users question the credibility of Facebook to launch money transfer. But Facebook officials deny these by delivering clearly possible way. They claim that it has been handling huge amount of daily payments between gamers and advertisements that pop up. The security provided by Facebook is so trustworthy. This ensures that connection between user’s device and Facebook servers got encrypted and any financial matters are got stored in the application.
The only drawback about this is that, this facility is available only in USA. The rest of the world will be acquainted with this facility shortly after its official launch. The feature can be viewed and made accessible on Android, iOS Devices and Desktop for clarity vision. . Officials representing Facebook are almost happy to welcome this fund transfer. The payment sections of these transfers are protected in a secured environment. Facebook keeps up a group of young programmer’s for anti-corruption along with this issue. This will ultimately monitor and end up with promise transmitting of doubtful and also ways to make this account safe.
Thus Facebook Messenger thus proved that for transfer of money between two persons require details about their debit or credit cards only. This can be transferred without the help of the respective banks also. This thus revolutionalised the concept of banks. It may in future, will force banks to merely accept deposits and lend certain sum as loans forcing them to do just the primary functions of bank only. It clearly marked the beginning of a new era stating that Facebook acts and fulfills certain things that were solely performed by banks only.