Facebook Messenger adds PayPal as P2P payment option
As of Friday, Facebook Messenger users can make peer-to-peer payments with PayPal as a funding source, the social media company announced. The new functionality currently available to iOS users in the US and will come to Android users soon, Facebook said.
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Financial services, including services from PayPal, already have a large presence on Facebook Messenger. Facebook launched payments on Messenger in 2015. In April of this year, the company enhanced the platform's peer-to-peer payments capabilities, enabling users in the app to send or receive money between groups of people. Facebook also rolled out M, a limited version of its AI assistant that offers help with a handful of specific tasks, including paying or requesting money.
Since 2016, Messenger users have had PayPal as a payment option when making purchases o the platform via third-party chatbots.
Friday's announcement comes a day after PayPal posted strong third quarter financial results, processing $114 billion in total payment volume in the quarter. P2P payments volume increased 47 percent to $24 billion, and represented approximately 21 percent of total payment volume.
Meanwhile, PayPal also recently rolled out a P2P payment integration with the Skype app.
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