Instant messaging services do not just send expressions and photos, Facebook can also send red envelopes

March 18, Facebook's Instant messaging service is no longer just for sending emoticons and photos, according to the New York Times website. Now users can use it to transfer money to friends.

Facebook local time announced in Tuesday that U.S. users of its Messenger app will be able to connect debit cards to the service, simply by transferring them to friends as they would send photos or text.
Given the size of its user base and its impact, Facebook's offer to pay will cause shock in the peer-to-peer payment market. Wall Street has been expecting Facebook to launch its payment function.
Asian social services, including micro-letters, have paid for hundreds of millions of users, but the technology has only just begun to emerge in the United States. In the United States, PayPal and other e-mail payment services have been very popular for a long time.
as messaging services begin to replace e-mail as the preferred form of electronic communication-especially among young people-Facebook wants to be as dominant in the messaging marketplace as it is on social networks. Facebook's Messenger is one of the world's largest messaging platforms, with more than 500 million active subscribers a month. Last year, Facebook spent nearly 22 billion dollars acquiring the mobile messaging platform WhatsApp, which has more than 700 million active users worldwide.
There are a number of peer-to-peer transfer services in the United States, all of which aim at messaging users. PayPal's mobile payment app can may be the most direct competitor to Facebook's new payment service. Can is very popular in the United States, it is not just a payment system, or a social network, users can publish information related to the purpose of payment.
Square offers a similar application where users can transfer money via email; After reading, the message service Snapchat allows users to transfer money to each other by working with Square. "The company wants to simplify the transfer process as much as possible through its own payment services," said Steve Davis, the Facebook product manager responsible for paying the project. Facebook wants payments and sessions done in a message topic and can be archived. The dollar sign for the transfer is displayed behind the messenger service dot-hop button. If a debit card is already bound, the user can transfer the money by clicking the dollar sign and entering the amount in the session. The entire session will be archived for later review.
by using a debit card, money can be quickly transferred to a buddy account, while allowing Facebook to provide services to users free of charge. Unlike PayPal or can, he says, "Users do not need to remember to withdraw money after that."
As with other new features of Facebook, the Messenger payment feature will be replicated in the United States over the next few months, offering an application or Web version for users. Initially, the service will be limited to the transfer of Facebook friends, so it will not immediately become the Apple Pay and other mobile payment services designed to facilitate the payment of shopping money.Competing. The business market poses a number of different challenges, Davis said. Some businesses, especially overseas ones, have been doing business informally with Messenger, according to
Facebook.
Facebook paid nearly 1 billion dollars in revenue last year, mainly from users buying game props. Facebook is also testing the water e-commerce business, allowing businesses to sell goods and collect money directly on their platforms.
Wall Street is predicting that advertising and business deals using messaging services will eventually become an important business for Facebook. Mark Zuckerberg, Facebook's CEO, shares that view, saying at a meeting in January, "I firmly believe that these businesses will contribute a lot to our performance over time, but we cannot make mistakes." "(Bamboo)