Pleasanton, CA, 03/19/2015: On Tuesday, Facebook has announced an individual-to-individual money transfer service in its Messenger app. The service will be available for Messenger apps for iOS, Android, and the Web.

The new service can be used to send money to people in your friends’ list. In order to initiate a payment through Facebook Messenger, a user will have to tap new dollar sign button, entering the amount, and then tapping on Pay. Users will have to add a Visa or MasterCard debit card issued by a U.S. bank to their Facebook account.

After adding a Visa or MasterCard debit card, a user can add a custom PIN, and Facebook enhances the security layer by adding a two-factor account authentication. On iOS devices users can replace a PIN with fingerprint data stored in Touch ID.

"The new service is using a secured environment that is separate from other parts of the Facebook network," says Facebook in its press release. “There is an anti-fraud team assigned to keep an eye on suspicious transfers.”

“Although, Facebook Messenger is not the first major chat service to allow people to transfer money to people in their contact list. However, it has the potential to outgrow any other such service with more than 1.5 billion users on its disposal.”

“The new payment feature is rolling out in the coming months in the US across Android, iOS, and desktop.”Although, money is technically transferred right away, it may take one to three days for cash to become available.

For further details about Facebook messenger mobile payments, please visit Facebook.

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