Money Transfer free on Facebook via phones

Social Networking Giant, Facebook will very soon facilitates Money Transfer through its Messenger App. This is a big leap for the social networking site to increase wireless and cashless transfers. The facility will enable users to send money to friends and family using smartphones linked to bank accounts or credit cards.

The service rolled out couple of days ago is absolutely free of cost and will work with debit cards and is available on Apple and Android mobile devices and on desktop computers. The service will be available to US users in the initial stages and will be brought to its user base in phases in the coming months.

The company also assured its users of complete security in the money transaction. Facebook even stored all the payments systems separately from other parts of the Facebook network which will enable additional monitoring and control.