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Facebook Messenger app getting mobile payment smarts

Facebook Messenger app getting mobile payment smarts

Facebook is readying a new peer-to-peer money transfer system for its Messenger app, according to newly leaked code.

Stanford student Andrew Aude discovered a string in the code that appears to show plans for ‘FB Payments’.

The service will let users upload card details and personal information, before creating their own PIN for added security.

Payments will then reportedly be sent between users in much the same way you can share images. A leaked version of the software has already been seen by TechCrunch.

Despite recently hiring a PayPal executive, Facebook’s Mark Zuckerberg recently said that the company needed to undertake a lot of "groundwork" before it could launch the money-transfer feature.

While it appears to be free right now, it’s likely the social network will demand a cut to facilitate transactions.

Square Cash and PayPal already offer such services, while banks such as Halifax have scrabbled to produce apps which allow users to enact payments faster than on their standard online banking pages.

Source:

TechCrunch

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