Facebook is set to shut down Messenger peer-to-peer payments on June 15th, but it could replace the service with a new technology…
On June 15th, Facebook will end support for Messenger P2P or peer-to-peer payments in the United Kingdom and France.
Facebook Discontinuing Messenger Payments in the UK and France
The news comes via James Whatley, who shared a screenshot of a message, announcing the end of Messenger payments:
UK P2P money transfers via Facebook Messenger coming to an end.
— James Whatley (@Whatleydude) April 16, 2019
This might signal a shift to another strategy. Facebook could launch its own crypto-currency, a type of “stablecoin,” to replace these traditional digital money transfers.
Facebook tells Engadget the following about its decision:
“After evaluating how we give people the best experiences in Messenger, we made the decision to focus our efforts on experiences that people find most useful.”
Parent company Facebook is already in the process of developing the new stablecoin currency for its other subsidiary, WhatsApp.
Facebook first introduced Messenger payments back in 2015. The service made it easier to repay family and friends or to send money using a debit or credit card. PayPal was added as another option a couple of years later.