Back in April, Facebook announced their money transfer feature on the Messenger App. It was hot property. All you had to do was save your Debit Card information, enter a pin, select a friend you wanted to transfer the money to and hit ‘pay’. They also had other AI features in the works that would enable bots to send or receive text messages, add emojis and images etc.
In the latest announcement, Facebook asserted that in a matter of months, you could be able to not just send money but also shop for stuff on the app, without having to leave the app!
What Buying on Facebook Messenger Will Look Like
Shopping for stuff on the Facebook Messenger app will be pretty easy.
- You will see ‘Buy Now’ links popping up in relevant chats. For example, if you are chatting with a vendor about the iPhone 7, the bots will identify and show a buying option in the chat window.
- If you have a Debit or Credit Card already saved on Messenger, all you need to do is click on the link and tap on the “Buy Now” option.
- If you don’t have a card saved, the link will take you to another page where you’ll have to save your card details. This would be a one-time thing.
- Once you are done saving your card details, you’ll be redirected to the Messenger App. You’ll have to authenticate the transaction with a PIN and bam! The product is yours.
What’s Different?
Facebook is optimising the bots for easier, better access. Earlier, Facebook Messenger would only allow you to transfer money. Now, you can:
- Shop online in just two taps of a button
- Manage receipts
- Track shipping
- Receive relevant newsfeed ads
The Facebook Messenger chat bot will start supporting Credit Card payments and other services like PayPal, AMEX and Braintree, Visa and MasterCard. All payments will be done securely.
The new features are only available to developers for now but are expected to be rolled out in the next couple months.
Revolutionising Payments
India’s shopping and banking scene is going through a massive digital revolution. Every transaction is just two clicks away.
Earlier this year, the Reserve Bank of India (RBI) launched the Unified Payment Interface (UPI) – a brand-new platform that allows you to link all your bank accounts and make transactions at lightning speed!
While this translates into faster payments, you’ll still require to hold bank accounts. Don’t have a Debit Card / Credit Card? Time to get one! Join the digital world of payments today.