Such a service would be incredibly convenient. I have no idea which of my friends have a PayPal account, and it’s not exactly easy to transfer money between banks.
Most transactions will be free.
You can send an e-card with the money if you want to make it more personal for something like a birthday. (See screenshots below.)
Facebook recently implemented a simple way to post birthday wishes on friends’ walls. Maybe the Send Money app will also make it easier to send a little birthday money along with it.
The benefits are obvious for PayPal. Facebook’s user base is rapidly expanding, with a current user count of over 500 million.
Facebook continues to grow, and this scares people. When Spotify joined Facebook, many were concerned with the fact that new Spotify users had to have Facebook accounts.
Naturally, there are privacy and security concerns. Let’s hope they require some extra authentication to send money. This better not be something people can do if your facebook is left open.