Pay for your pizza using Facebook Messenger!

Facebook makes fintech move with UK launch of p2p payments via Messenger feature

Are you excited by being able to make payments via Facebook Messenger?

"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".

"It's those everyday moments we're trying to make a little easier - we've seen that in the U.S. most people use payments in Messenger to send less than 50 dollars at a time".

This is the first time Messenger has extended payments since launching in the US.

It's a new feature launched by Facebook Messenger that allows you to send and receive money through in-app conversations in the UK.

It's a convenient feature that saves you from the hassle of having to exchange bank details with people, save them and then carry out the transfer in a different app.

The functionality is rolling out in stages to all U.K. Messenger users over the next few weeks.

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According to reports, all major banks in the United Kingdom are taking part in the service.

M is a virtual assistant in Messenger, powered by artificial intelligence, and will recognise when you and a friend are discussing payments and gives an option to easily receive or send money.

Facebook is looking to roll out its Messenger payments service across Europe.

Payments in Messenger are fast, free and secure.

Facebook says money will be transferred right away, but may take one to three business days to become available, "depending on the person's bank".

A limit of £10,000 worth of transfers every 30 days will be established for the service to prevent fraud although experience from the USA, where the system has been in place since 2015, suggests the majority will use it to transfer sums of £38 or less. According to recent survey of almost 4,000 USA consumers by 451 Research, just 1% of them had used P-to-P payments in Facebook Messenger - less than Venmo, Square Cash, Google and FI payment solutions such as Zelle.

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