Facebook is adding a new feature in Messenger that gives people a more convenient way to send or receive money between friends. Available in over the coming months in the US, the feature will let you send the amount you want to send to your friends by adding your
debit card. In order to receive money, you should open the conversation from your friend and add your debit card to accept money for the first time.

The money you send is transferred right away. Facebook says it may take one to three business days to make the money available to you depending on your bank, just as it does with other deposits.

Facebook handles all the payments processed on Messenger. The company uses secure systems that encrypt the connection between you and Facebook as well as your card information when you ask us to store it for you. These payment systems are kept in a secured environment that is separate from other parts of the Facebook network and that receive additional monitoring and control. A team of anti-fraud specialists also monitor for suspicious purchase activity.

The first time you send or receive money in Messenger, you’ll need to add a Visa or MasterCard debit card issued by a US bank to your account. Once you add a debit card, you can create a PIN to provide additional security the next time you send money. On iOS devices you can also enable Touch ID.

Snapchat had launched a similar service last November, called Snapcash.