Advertising
Advertising

Facebook Messenger Allows Us To Send Money To Friends

Facebook Messenger Allows Us To Send Money To Friends

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:

Advertising

  • 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.

Advertising

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.

Advertising

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.

Featured photo credit: Pixabay via pixabay.com

Advertising

More by this author

Matt Duczeminski

A passionate writer who shares lifestlye tips on Lifehack

8 Steps to Ensure You Accomplish Your Goals 6 Steps to Ensure You Keep Reaching For Your Goals 5 Ways to Lessen Back Pain 12 Self-Destructive Habits to Eliminate for a Positive Life 7 Public Speaking Techniques To Help Connect With Your Audience

Trending in Money

1 Life Insurance: A Secure Way To Protect Your Future. 2 How To Save Money On Groceries: 13 Quick Tips 3 10 Investment Tips For Beginners 4 Top 6 Hacks on How To Build Credit Fast 5 Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

Read Next

Advertising
Advertising
Advertising

Last Updated on March 29, 2021

Life Insurance: A Secure Way To Protect Your Future.

Life Insurance: A Secure Way To Protect Your Future.

Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

Importance of getting a life insurance

No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

Advertising

On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

Choosing the right insurance plan

If you’re about to select an insurance plan, you should consider some important factors:

Advertising

  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

Differences between life insurance plans

Here’s a short brief of some plan categories you can choose according to your needs:

Advertising

  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

So what are you waiting for? Plan for your future and live a happier and carefree life today.

Advertising

Featured photo credit: aryehsampson.com via aryehsampson.com

Read Next