The latest way to pay someone from your phone: Facebook

In this June 11, 2014 photo, a man walks past a Facebook sign in an office on the Facebook campus in Menlo Park, Calif. (AP Photo/Jeff Chiu, File)

NEW YORK (AP) — Facebook’s Messenger app will soon let you send your friends money, the latest in a crowded field of services aimed at an increasingly wireless and cashless generation.

Services including PayPal, its Venmo unit and the disappearing-photo app Snapchat let you beam money to friends and family using smartphones linked to bank accounts or credit cards.

Facebook’s entry, announced Tuesday, is free, works with debit cards and is available on Apple and Android mobile devices and on desktop computers.

The world’s largest social network will process the payments and emphasized the service’s security features.

Facebook will likely expand internationally after the service becomes available to U.S. users over the coming months.

To send money, Messenger users can tap a new “$” icon that’s next to the buttons that let you send photos, stickers or a thumbs up sign. Then, enter the amount you want to send, tap “pay” on the top right corner and enter your debit card number. To receive money for the first time, enter the card number.

Once you add your card number, you can create a pin code that you will need to enter the next time you want to send money. On Apple devices that have Touch ID, you can enable this instead and authorize transactions using your fingerprint.

To help allay concerns about security, Facebook noted that it handles more than a million payments transactions on its site every day for its advertisers and game players.

Its payments systems are stored separately from other parts of the Facebook network and receive additional monitoring and control, the company said in a blog post Tuesday.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s