Facebook Messenger has quickly become the most downloaded app in the Apple Store. The announcement that Facebook Messenger will now allow its users to send money to friends has made it clear why the number one social media company had been pushing its users to download the Messenger app since the middle of 2014.
Sending Money Through Facebook Messenger
Many proponents of the new feature cite a number of beneficial aspects of this new addition:
- Allowing users to send money to their families for a small fee.
- Money will be sent through debit cards. Senders will not have to make their bank account information known to receivers.
- Use of a PIN or Apple’s fingerprint ID provides an extra layer of security to protect Facebook users’ accounts and debit card information
Downsides of the New Feature
Still, others remain wary of the possible negative effects the new Messenger feature could have. Most Facebook users don’t take kindly to changes on the site, especially when dealing with money.
Facebook users may worry that since their debit card information will be saved onto their Facebook account, a compromised account may lead to much bigger problems.
Finally, many Facebook users are skeptical of the company’s intentions: Will advertisements just become more prevalent on our News Feed? Will it become easier to get duped into buying a product with the click of a button?
Obviously, the idea of sending money through applications or electronic messaging systems is not a new idea. However, PayPal president David Marcus was hired last June to oversee the messaging system of Facebook. Combining his knowledge of electronic payments and money transfers with Mark Zuckerberg’s innovative perspective on the future of social media could bring Facebook Messenger to the forefront of e-commerce in the years to come.
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