Facebook users can now send money via Messenger thanks to the Azimo app.
Azimo is a mobile money transfer service founded in 2012 and claims to be the first to offer such a service though Facebook, the world’s leading social media platform.
The people sending and receiving the money can be connected through their Facebook friend list and complete the transaction using the London-based FinTech firm’s app.
Facebook’s long-term goal for monetising Messenger is to connect businesses with potential customers, with AI and ‘chatbots’ key to booking services.
The tech giant smashed expectations in announcing its quarterly profits and revenue recently.
Azimo is targeting the community of migrant workers who send money to families abroad, many of whom keep in contact via Facebook.
Azimo CEO Michael Kent said: “Sending money should be as easy as adding a friend on Facebook.
“With 250 million migrants around the world sending over $600 million dollars home every year to family, friends or businesses, the new feature creates an unprecedented shared ownership, putting the receiver in as much control as the sender.”
Azimo claims the payment process will be made faster thanks to Messenger’s instantaneous message exchange and also avoid the problem of mistyped financial details.
An Experian study found this week that tech-savvy social media users are increasingly likely to be targeted by ID theft.