Facebook rolling out payment system

18 March 2015

Facebook Facebook are pushing on with a payments system for their Messenger app, which means people will be able to send money to their contacts directly and instantly.

That is, of course, if you trust Facebook with your bank details.

Initially, this is going to be a thing in America, where Stateside users can link their accounts and debit cards with their profiles and with a couple of taps, send cash to people. Facebook themselves are going to handle transactions and the encryptions. They already handle millions in advertising and gamers on the social network, so that should allay a few fears.

If you're game, you'll be able to add a PIN or use Apple’s Touch ID security as further protection.

Again though. This is Facebook who have a rather wayward approach to your data, so if you hold off and stick to tried and tested methods away from them, we wouldn't blame you.

This new feature will be hitting iOS, Android and the desktop version in the coming months and will be rolled out worldwide soon enough.

"Incorporating security best practices into our payments business has always been a top priority," 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."

TOPICS:   Technology   Social Media   Banking

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