We keep hearing that Facebook is losing audience and soon will not be the social network giant that it is now. Despite the speculations the social network giant keeps introducing new features to keep everyone intrigued and signed in.
The latest news suggest that Facebook will now be introducing Mobile Payments. This means that transferring payments through Facebook will be as easy as sending others pictures. This was speculated since June, when President of PayPal, David Marcus, left PayPal to join Facebook as a product builder.
These speculations were further confirmed last week by a Stanford Student, Andrew Aude, who hacked into the Facebook system and found out that plans are in process for the new feature.
He says that Facebook users will soon be able to make payments through Facebook Messenger, with a debit card added to the user’s Messenger account. Making a payment will be super easy; “you simply hit a button to initiate a payment, enter the amount you want to send, and send it.”
While Aude believes that the fee for each transaction would roughly amount to around $0.40 to $0.50 and maybe a $1 fee for using the application, but this ofcourse is not confirmed till the actual launch of the feature.
Knowing how Facebook easily attracts attention, the feature might be a sure-fire hit and companies like PayPal and Clinkle might be in for some serious competition. But the fact that the system can so easily be hacked even before its launch questions the safety and privacy of the transactions.
How well do you think will the Facebook Messenger payment feature fare?
