Send Money to Friends in Messenger

#1

Post by iceron » Tue, Mar 17, 2015, 7:07 PM UTC

Send Money to Friends in Messenger
newsroom.fb.com

Re: Send Money to Friends in Messenger

#2

Post by Jake232 » Tue, Mar 17, 2015, 7:14 PM UTC

I think it's interesting that we can now pay almost anybody we have contact with, at almost zero effort and without even having to remove my debit card from my wallet.

You can pay people via gmail now for your email contacts, send money to your personal friends via social media networking. I bought my Uber to work this morning completely frictionless without having to physically use my card.

It's an interesting development of recent years for sure.

Re: Send Money to Friends in Messenger

#3

Post by dsugarman » Tue, Mar 17, 2015, 7:14 PM UTC

does this say something about how fast snapchat is innovating?

Re: Send Money to Friends in Messenger

#4

Post by ngoel36 » Tue, Mar 17, 2015, 7:15 PM UTC

Did they build out this technology themselves, or was it through an acquisition?

On a side note - no AmEx or Bank Account option...

Re: Send Money to Friends in Messenger

#5

Post by bobsky » Tue, Mar 17, 2015, 7:16 PM UTC

A natural addition. And just like Square Cash, just enter bank issued debit card for fee-free transactions.

Now if it would work outside the US and in-between different countries, that'd be the killer app. Is there anything close to that dream?

Re: Send Money to Friends in Messenger

#6

Post by zacharypinter » Tue, Mar 17, 2015, 7:16 PM UTC

At this point, I just want one of these pay-with-your-phone solutions to win and be ubiquitous.

The current situation is almost comical. "Do you have Venmo? Haven't set that up yet, can you send over Paypal?. No, what about Square Wallet? Nope, what about Gmail?"

Re: Send Money to Friends in Messenger

#7

Post by TheSoftwareGuy » Tue, Mar 17, 2015, 7:18 PM UTC

zacharypinter wrote: post #6

At this point, I just want one of these pay-with-your-phone solutions to win and be ubiquitous. The current situation is almost comical. "Do you have Venmo? Haven't set that up yet, can you send over Paypal?. No, what about Square Wallet? Nope, what about Gmail?"

At least Gmail & Facebook are pretty widely used already though

Re: Send Money to Friends in Messenger

#8

Post by tonyhb » Tue, Mar 17, 2015, 7:18 PM UTC

dsugarman wrote: post #3

does this say something about how fast snapchat is innovating?

Considering we've had Venmo[1], wallet/gmail[2] and Square Cash[3] since 2013, not really.

[1]: http://bits.blogs.nytimes.com/2012/03/20/after-2-years-in-be...

[2]: http://googlecommerce.blogspot.com/2013/05/send-money-to-fri...

[3]: http://allthingsd.com/20131015/the-money-is-in-the-email/

Re: Send Money to Friends in Messenger

#9

Post by salimmadjd » Tue, Mar 17, 2015, 7:18 PM UTC

Now I see why they hired former paypal guys, David Marcus [1] and Stan Chudnovsky [2]

Although I'm sure the team had been working on it for a while (given these were relatively new hires), bringing in the paypal executives helps them have a smoother launch and scale process.

1: https://www.linkedin.com/in/dmarcus

2: https://www.linkedin.com/in/stanchudnovsky

Re: Send Money to Friends in Messenger

#10

Post by adriancooney » Tue, Mar 17, 2015, 7:19 PM UTC

Wow, this is a really interesting play by Facebook to gather finance details of their users. I can absolutely see an scenario where friend X wants to pay friend Y who hasn't enabled Pay and they nag until friend Y does sign up. The cycle will continue. It's probably part of a bigger venture into eCommerce for Facebook.