Dubai: Sending money will soon be as easy as posting a photo on social media or texting a friend, free of charge.
Facebook, the social networking company that handles more than one million transactions daily, is changing the way most people transfer money to their friends or relatives.
It announced on Tuesday that internet users will be able to send money to each other without having to step into a bank or a money exchange outlet. All they need to do is log in to Facebook’s popular chat application, Messenger.
The service, which will enable social media users to link their debit card and send or receive money, will be rolled out first in the United States over the coming months.
“It’s easy and free,” Facebook said in its announcement.
The amount send will be transferred right away, though it will probably take one to three business days to make the cash available for withdrawal, “just as it does with other deposits”, Facebook said.
Facebook assured that it uses secure systems to ensure that personal accounts or any card information will not be compromised.
“We use layers of software and hardware protection that meet the highest industry standards. These payment systems are kept in a secured environment that is separate from other parts of the Facebook network and that receive additional monitoring and control.”
“A team of anti-fraud specialists monitor for suspicious purchase activity to help keep accounts safe.”
There is no word yet when the service will be made available to the UAE market.
