May 27, 2022
Facebook Messenger payment options

Facebook Messenger Payment Options Integrates TransferWise

Facebook Messenger payment options are becoming more robust with the addition of international money transfer company, TransferWise…

The popular Facebook messaging app, Messenger, just incorporated TransferWise to substantially expand payment options and further shopping potential, right within the platform.

Facebook Messenger Payment Options Introduces TransferWise for International Use

Messenger payments have been available for many months. In October of last year, Facebook announced its PayPal Messenger integration. During the same time, Shopify sites started selling products through the messaging service. With this addition, it will be the first international fund transfer service.

“TransferWise’s chatbot enables customers to send money to friends and family to and from the United States, Britain, Canada, Australia and Europe from Facebook Messenger. It can also be used to set up exchange rate alerts,” Reuters reports.

This move indicates where Facebook is heading with Messenger commerce. Bots are a technology which is particularly popular in Asia, although their availability and appeal are gaining traction in the west. For instance, in China, 570 million people log onto WeChat every day. That service allows people to schedule taxis, pay utility bills, bank, and buy products.

WeChat states over 31 percent of its users initiate purchases through the app and average time on the platform exceeds 70 minutes per day. That figure is greater than social media behemoth Facebook, which clocks-in with an average of approximately 50 minutes.

Presently, there are over 34,000 active bots on Messenger. However, bots have not generated significant interaction. This is partly due to user unawareness and partly due to bot technology infancy. As bots develop, more consumers are likely to use the tech to browse and make transactions, without having to leave the app.

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