Facebook Messenger Now Lets You Send Money

Facebook Messenger Now Lets You Send Money
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International money transfer service TransferWise has announced an integration with Facebook’s Messenger that will let people set up foreign exchange transactions over the chat service, according to Bloomberg.

London-based TransferWise launched the technology as a bot baked within Messenger. The bot, which is free to use and doesn’t affect prices or rates offered, will talk users through the process of arranging an international money transfer with TransferWise. The bot will also allow people to set alerts to notify them when a particular foreign exchange rate they are interested in hits a certain level.

The service is available for payments to and from the U.S., Canada, Australia, the U.K. and Europe, the company said. It said it would later expand the offering to all 50 countries, and 600 currency exchange pairings, that TransferWise supports.

In launching a bot on Facebook, TransferWise joins a growing lists of foreign exchange and payment companies experimenting with sending money over messaging apps, which many people think will gradually replace standalone mobile applications as the primary e-commerce platform.

Azimo, a foreign exchange transfer service that is a rival to TransferWise, announced an integration with Facebook Messenger in August. PayPal, Stripe, Visa, Mastercard and American Express already have payment bots on Facebook Messenger, as does the China-based Alipay.

WeChat, the popular Chinese messaging service owned by Tencent, was a pioneer in offering chat-based payment systems. Facebook has made a major push to get payment services to integrate with Messenger in order to turn it into a commerce platform as well as a chat destination.