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Send Money to Friends in Messenger

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Re: Send Money to Friends in Messenger

#71

Post by fragmede »

macNchz wrote: post #50
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 for my demographic in NYC it feels like Venmo has enough traction that there isn't much friction if you ask to be paid/pay with Venmo. Enough people have it that the odd one out who doesn't feels compelled to sign up, and the onboarding is also fast enough that people can sign up while waiting for the check at a restaurant, for example.

All that says is that Venmo has traction among your immediate peers. If Paypal/Square wallet/Bitcoin had the same traction, the rest of your comment would still be hold.

Re: Send Money to Friends in Messenger

#73

Post by differentView »

superuser2 wrote: post #38
FreakyT wrote: post #14

It's an interesting feature, but it seems unlikely that enough people will add their card information to Facebook to make it worthwhile, considering that both the payor and payee need CC information included for the payment to work. On a related note, this continues Facebook's unfortunate user-interface decision to replace the simple "send" button in Facebook Messenger with a row of increasingly crowded and not-parti…

Square Cash and Venmo are quite popular. I wouldn't be so sure.

What's your definition of popular?

Re: Send Money to Friends in Messenger

#74

Post by evanspa »

serve_yay wrote: post #49
cwilson wrote: post #33

Earlier quoted context omitted.

If I were Facebook I'd require anyone using the Pay feature to turn on two factor authentication.

Yes, they should do that. And I can't think of anything more annoying than needing to receive a text, just so I can log into dumb old Facebook. (I realize there are other "factors" available but that's not really the point.)

Or, they could do it lazily. I.e., only force the 2FA at the time of money send / receive.

Re: Send Money to Friends in Messenger

#75

Post by devy »

Digital wallet is a huge trend everywhere right now. Besides PayPal, Square, Google, Apple, Facebook is finally joining the game. FYI, billions are flowing through similar service from Tencent's WeChat(aka Weixin) and Weibo during this year's Chinese's new year and giving and receiving red envelop money via digital wallet became a new way of Chinese social phenomena.

Re: Send Money to Friends in Messenger

#76

Post by afarrell »

mrjatx wrote: post #64
gk1 wrote: post #43

Earlier quoted context omitted.

"You owe me $20" "OK, hold on, here's an ATM." ... "Here you go."

"You owe me $20" "Ok, hold on, let me get into my car, drive down the street, look for parking, get out of my car, wait in line, pay an extra $1-4, drive back down the street, look for parking, exit car, then hand you your $20 that just cost me about $30 in time, effort and gas." But maybe I'm cynical because I'm in Austin and driving anywhere is just miserable.

Why are there no blue mailboxes anywhere?

Re: Send Money to Friends in Messenger

#77

Post by mahyarm »

encoderer wrote: post #23
FreakyT wrote: post #14

It's an interesting feature, but it seems unlikely that enough people will add their card information to Facebook to make it worthwhile, considering that both the payor and payee need CC information included for the payment to work. On a related note, this continues Facebook's unfortunate user-interface decision to replace the simple "send" button in Facebook Messenger with a row of increasingly crowded and not-parti…

You only need to convince the payer. The recipient gets an email that says "You have money waiting, let us give it to you."

No, they then tell the payer, pay me with this instead, I don't want to sign up for this. The usual use case is giving money back for restaurants and such, so you have the social closeness to do this.

Re: Send Money to Friends in Messenger

#78

Post by [deleted] »

billyhoffman wrote: post #52

Interesting. Facebook has over 1.1 billion users, but their existing financial systems (Facebook credits, etc) process only 1 million transactions a day. I would have thought it was higher. Of course, that's daily, so another way to look at it is 0.1% of Facebook users pay for something on Facebook on a given day, which strangely feels high.

[deleted]

Re: Send Money to Friends in Messenger

#79

Post by anuragbiyani »

gk1 wrote: post #43
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?"

"You owe me $20" "OK, hold on, here's an ATM." ... "Here you go."

"The total for both of us was $55, so you owe me $27.5."

"OK, here is some random bank's ATM which charged me $44 to get $40 (2 x $20) out, and now you say you don't have $12.5 in change on you ... well, shit." ... "What will you prefer: GWallet or FB ?"

Re: Send Money to Friends in Messenger

#80

Post by smackfu »

gk1 wrote: post #43
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?"

"You owe me $20" "OK, hold on, here's an ATM." ... "Here you go."

When you get used to something like Venmo, and a critical mass of friends are using it, it's amazing how effortless it is. Take a cab somewhere, one person pays with their credit card, the other people settle up in the next 30 seconds. Done.
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