Facebook Messenger payments isn't as universal as some offerings, as it requires both parties to register their details and cards with the service.
"Plus, since payments in Messenger use debit cards, as with any other debit card payment, if there are unauthorized charges, people have recourse with their bank".
The service initially launched in the U.S.in 2015 and has caught on when users want to send payments that would have previously been made with fairly small amounts of money under $50.
Speaking about the service, David Marcus, head of Messenger said: "Our research shows the top reasons for sending money include celebrations, social, and festive occasions; it's those everyday moments we're trying to make a little easier - we've seen that in the USA most people use payments in Messenger to send less than $50 at a time".
According to Facebook, money will be transferred right away but may take few days to reflect in the account of the receiver.
"In the USA most people use payments in Messenger to send less than $50 at a time", Marcus said in a statement. In order to send or request money, users can click on the payment option that appears in the messenger. The company has over 2 billion active users, and 1.2 billion use its Messenger platform, dwarfing even the 900 million users of the massively successful WeChat platform in SE Asia.
What is Facebook Messenger payments?
Despite Facebook owning WhatsApp the United States technology firm says this service will be exclusive to Messenger.
Payments will be protected by a PIN system to prevent fraud and augmented by its M digital assistant, which will issue a handy prompt when someone asks for money.
It will recognise when people are chatting about payments and suggest using the feature. Square has a similar product called Square Cash, and PayPal's Venmo has been a popular choice for younger users in particular.