Facebook may soon offer peer-to-peer payment feature
Facebook Messenger might be having the capability of money transfer but the feature has not been made public yet. A Stanford University Computer Science student Andrew Aude shared some photos on Twitter, showcasing the peer-to-peer payments feature in Facebook Messenger on Saturday.
Last month, security researcher Jonathan Zdziarski shared on Twitter that he has found some payment system related code in Facebook messenger. Aude said that he continued searching for the messenger code, with the developer tool Cycript, to see if there is a payment option hidden in Facebook messenger.
In June 2014, Facebook hired Ex-President of PayPal David Marcus . The move raised speculations among technology experts that Facebook might be working on rolling out a payment transfer option.
Messenger’s payment option lets users send money in a message similar to how they can send a photo. Users can add a debit card in Messenger, or use one they already have on file with Facebook. An in-app pincode also exists for added security around payments, reports TechCrunch.
It’s unclear whether Facebook will monetize Messenger by charging a small fee for money transfers, or offer the functionality for free to drive usage of its standalone chat app.
Aude told TechCrunch that the information about payments is not published to the Facebook News Feed. He also said that payments only work with debit cards, not credit cards. Although PayPal did not appear as an option, there are notes about PayPal in the code unearthed by Aude.
Mark Zuckerberg, CEO of Facebook, had shared during the earnings call that Facebook would soon have e-commerce options. Facebook has recently pushed Facebook messenger on mobile devices, in a move to offer more features with the app in near future.
As more people use smartphones and tablets, the technology majors are aiming at offering closer integration for money transfer. With two clicks, Facebook messenger could make sending money much easier.
Facebook and Apple will be able to generate decent revenue from the payment transfer options as more people start using online transfers from their mobile devices.