PayPal launches Facebook app called Send Money
PayPal today launched a new Facebook app called Send Money that makes it easier to send payments to your Facebook friends. PayPal has been experimenting with all kinds of payment technologies recently, especially across mobile and social markets, and this recent one is no-brainer.
Facebook has more than 800 million active users and a large percentage of them likely have active PayPal accounts. It thus follows that PayPal should make it possible for let them to easily send cash to and from each other.
The app is as straightforward to use as its name implies. All you have to do is choose an ecard (optional), a friend to send it to, and then select how much money to send.
Because Send Money offers peer-to-peer payments, there is no transaction, although PayPal's international fees and standard limitations still apply. We'll see soon enough if Facebook users start sending money over the social network rather than by e-mail.
"The PayPal and Facebook infrastructure have now merged," PayPal's Anuj Nayar told Mashable. "This is another way to personalize the act of giving money."
See also:
- eBay partners with Facebook on social commerce: Want, Own buttons
- Facebook executive joins eBay's Board of Directors
- PayPal to announce Facebook integration in two weeks (rumor)
- PayPal: over 12 million monthly users pay for virtual goods (updated)
- PayPal co-founder: Facebook could be "most valuable company in the world"