Few days ago, while digging in Facebook, I just ran into an application called “Send Money”. Turn out it is a beta PayPal application for sending money through Facebook. It seems even the social networks are taking a big leap forward with the money transfer services. There are several existing options to make payments with Facebook, but all of them are related to credits and games. This is the first application that actually can send money to another person. And it’s free, except the standard PayPal fees.
Sending money, person to person, is free, if it’s funded by a PayPal balance or linked to a bank account, it’s free.”
PayPal Senior Product Marketing Manager JB Coutinho
Send money with Facebook?
Actually it’s more like “send money with PayPal”. The application have no relations with Facebook itself. However it seems convenient way for sending money. The process of sending money with this app is pretty straightforward. There are two options – just sending money, or sending money with а Greeting card (which can be a life saver if you forget your friend’s birthday and remembered after you saw the notification on your profile). After selecting the option you just choose the recipient, Facebook friend or just e-mail, select how much money to send and you are ready. The recipient get a notification on the wall and in the e-mail with instruction to login (or register) into PayPal to claim the money.
While the main objective of PayPal’s app “Send Money” is enablement of money transactions across the largest social network in the world, the greeting card option is really taking off, making it useful for dozen more reasons.
Even in Beta, this application is a great start for the social payment’s future, making PayPal again one step ahead of the alternative money transfer services.