Facebook Messenger News: Person-to-Person Payment App Expanded Across U.S.

Sending money has become easier in the United States with Facebook expaning its messenger mobile payment service throughout the country. Users will now send money directly to anyone in the U.S. inside the app with only a few taps!

According to a report in IB Times, Facebook vice-president (Messaging), David Marcus announced on Tuesday the expansion of its Messenger's person-to-person payment feature anywhere all over the U.S. Marcus said in a post that a Facebook messenger user only needs to add a debit card to the app, tap the "$" icon on the message screen and type the amount he/ she wants to send. Subsequently, the receiver opens the payment to confirm receipt.

However, even after confirmation of receiving the payment, it may usually take about three business days to receive the actual money from the bank. The time taken in receiving the money depends on the receiver's bank, Marcus stated.

Although the feature is free for all Facebook Messenger users in the United States, currently, the payment options are only limited to debit cards. According to Mashable, this move by Facebook aims at reducing the risks of fraud as well as to avoid transaction fees. On the other hand, another person-to-person mobile payment app dubbed as Venmo allows its users to send money using credit cards. However, it charges a 3 percent fee for each payment.

VentureBeat reports that after Facebook announced the feature in March, it tested the app on a limited basis in New York in May. While the service is more extensively available in the United States, the Facebook app joins the ever increasing market of person-to-person payment apps like Square Cash, Venmo and Google Wallet.