MSE News: Facebook Messenger to allow you to transfer money within a chat

MSE_Luke

You'll soon be able to send cash to your family and friends using Facebook's Messenger app...

Read the full story:
'Facebook Messenger to allow you to transfer money within a chat'

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robin58

I would rather claw my eyes out than give any of my financial details to Facebook.

aj23_2

This is really shocking. Very bad idea.

CKhalvashi

What I don't get is Facebook leaving a large proportion of their potential transfer base (being business to consumer businesses) out of the loop (although maybe it'll be trialled later on).

IMO they'd do well to partner with a company like Transferwise, who offer multiple currency accounts and decent pricing, to be able to request an invoice through Messenger for customers. It also saves the US government being able to get their grubby hands on financial details through Facebook itself as Transferwise is a British company.

Facebook is often the easiest way to get hold of a company for consumers, so to be able to assist both customers ordering with a company and also help small businesses access Facebook's customer base and keep them loyal to the platform, surely it'd be a good option all round.

For general consumer to consumer transactions though, I agree with the above that this is prone to abuse, especially with the number of scams going around at the moment.

simonhunter87

Finally. They've had this in the US for a while

pappa_golf

upto 5 days to transfer , no thank you

Ian011

Golden opportunity for identity fraudsters, money launderers, scammers, and other assorted criminals.

At this moment the news is reporting that a hundred million pounds was lost in 19 000 online money transfer scams in the first six months of 2017.

Farway

What could possibly go wrong?

LadyDee

Absolute madness. What fool came up with this?

LadyDee

robin58 wrote: »

I would rather claw my eyes out than give any of my financial details to Facebook.

Or indeed, any details at all.