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Image for 'Facebook launches p2p payments for Messenger in the UK'

Facebook is making its first foray into finance in the UK with the launch of a new feature which lets users send and receive payments via Messenger.

🔗 Wired | Independent | Facebook help guide | BBC

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Image for 'Facebook launches p2p payments for Messenger in the UK'


a year ago

Looks like @sytaylor 's not too excited about this though.

"The fact that you have to click and from there set up your account and from there pay someone doesn't scream mass adoption to me," fintech expert and co-founder of consulting firm 11FS Simon Taylor told City A.M..

"Why Messenger and especially WhatsApp payments aren't amazing is beyond me. It could be so awesome but it's sort of an afterthought," he said, adding that in the US p2p messaging payments are still dominated by PayPal's Venmo.

I've just downloaded the latest version of the iOS app & I can't find the option to use this feature ¯\_(ツ)_/¯

Some more details from the Wired article -

The Messenger payments system for users is simple to use. In a chat with a friend, press the blue plus symbol and select the payments option. On the first payment the app asks for bank information to be entered (Visa and Mastercard are supported) and then requires an amount to be paid (the biggest payment is £2,500 and there's a rolling 30-day limit of £10,000).

The money is then transferred to a friend in one to three business days. If the friend hasn't set the system up, they'll be prompted to enter the card details to get the payment. In a demonstration, Facebook staff showed the system working in a matter of seconds.

I'm slightly disappointed that the payments will take so long to arrive.

According to The Telegraph's article, money is sent & received from user's debit cards which, as Simon says, have to be added to the app.

“Messenger uses people’s authentic identities so people know who they are talking to,” says Facebook. “And when it comes to payments, we take extra steps for protection: All debit card credentials are encrypted and protected with bank level security, our world-class anti-fraud specialists monitor payments, and in the rare case that we find unauthorized activity on an account, we’ll work with them to secure the account again.

“Plus, since payments in Messenger use debit cards, as with any other debit card payment, if there are unauthorized charges, people have recourse with their bank. Finally, Messenger payments are offered as a regulated payment service, meaning they’re directly subject to consumer protection requirements.”

a year ago

It bothers me facebook doesn't seem to want to do well at this

a year ago

Doesn't surprise me, though. I've been dealing with a different team at Facebook for the last four months on enterprise social stuff (ask anyone at RBS and they'll tell you their ESN actually sucks). They seem to be repeating the same mistakes everyone else made 7-8 years ago while arrogantly insisting the result will be different this time because this time it's Facebook. No, if the product doesn't work it doesn't matter if you're Facebook.

a year ago

It might be just me being a curmudgeonly old person, but I hate this (and Venmo, and all the others). Just buy a fucking round without expecting the money back, ffs. Social niceties are what builds trust between people.

I'm officially Not A Millennial now.

a year ago

I'm not alone in abhoring this kind of stinginess, it seems

a year ago

I can't see the option either.

@sharon I'll have whatever you are....cheers!

a year ago

Gladly. You'll need to come to London though :)