How To Send And Receive Money On Facebook: The popular social media platform, Facebook that started small as a mere information sharing platform has since grown to become a force to contend with when likened to other existing social media platforms.
One of the features we shall be discussing that distinguishes Facebook from other platforms, is sending and receiving money via Facebook.
Facebook Messenger was birthed out of the normal Facebook application not too long ago, and the update didn’t meet many Facebook users well.
Till now, some people haven’t still been acquainted with the Facebook messenger app and might keep in them the belief that messenger makes them stop using Facebook as they would have.
But of a truth, birthing out the messenger application is one of the greatest development Facebook has experienced as users who moved with the integration have many testimonies of the benefits that comes with messenger.
Some of the features that Facebook messenger has are voice calls, chatbots, chess games, mobile payments, and more. So with the mobile payment option on Facebook messenger, You can send and receive money just like the PayPal-style.
Facebook Pay is the feature that makes it possible to process transactions that includes sending and receiving of money on Facebook. This feature began in the US and was launched in November 2019.
Facebook Pay creates an easy route of sending money to friends, family, and business associates through Facebook messenger.
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HOW TO SEND AND RECEIVE MONEY ON FACEBOOK
And you can do this with just a few steps at the comfort of whatever location pleases you.
If you still have some doubts about how this works or how true it could be, know that in 2014, the former CEO of PayPal, David Marcus, left his role as the president of PayPal and joined Facebook to oversee Facebook Messenger, and the launching of Facebook’s cryptocurrency Libra. And His stay at Facebook was until 2018.
When you send or receive money on Facebook, the service is absolutely free and you will not be charged a dime. Although this service is only available in the US.
Both the sender and receiver must reside in the United States and must be at least 18 years old. To get started, the following steps are required for your money transfer.
Step one: Add your debit card informations.
This first step differs with on Android and iOS.
So, if you use Android, log in to your account on the Messenger app and tap the Profile icon, you’ll be taken to your profile page. From there scroll down the page till you see the ‘Payments’ option, then click on it.
If you use the iOS version of the app, log in as usual and tap Settings, from the loaded page, select Payments.
Then tap Add New Debit Card and complete that process.
Step two: Open your chat with the person you are sending the money to. If you have no previous chat with such person(s), you can open a new chat. Then from the chat page, tap the “more” icon in the toolbar.
The word “more” “is not” inscribed on the icon. Rather it is a mall rectangular button that has three dots on it.
Step three (A):
The next action is to Tap Payments on the page you will be redirected to. You will see some info next on the screen, but talk next to bypass this. After this, you will be redirected to the Play screen.
And here is where you will enter the amount you want to pay or transfer. You will also be required to add a note to tell the receiver what the payment is for.
After filling the boxes provided here, tap the “Pay” button to process your transaction.
Step three (B):
This is the step you will opt for as your step 3 if you want to request for money instead of sending it. It is not a continuation of the step 3a. it is rather a replacement. So if you are not sending, but requesting for money you follow this step.
To request money, tap Request at the top of the screen to the right of the play button.
Then enter the amount you are requesting and also the reason for your request in the space provided for the note.
After that, you will tap the Request button to complete your request process.
After you have completed the steps above, the transaction will appear as an embedded item in line with your existing chat or the one you just created.
The recipient (either of the money or request) will also receive the transaction in the form of an embedded message. Such person(s) will then have to accept or deny the request and transfer.
Be reminded that the service is only available for residents of the U.S. for now. But there is hope of having it extended to users in other regions subsequently.