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Update: How Does Facebook P2P Actually Work?

A vast majority of Facebook’s 500 million monthly users are logged on to Facebook Messenger with about 80 million payment cards on file. Facebook’s recently launched P2P payments system is currently built entirely around the Messenger platform. Facebook’s P2P payments begins as a conversation within the Messenger app. Then, with the press of the new $ icon and the entry of an amount, one can send money that will arrive on the recipient’s listed debit card within seconds.

What is really interesting is that Facebook is offering a fee-free P2P payment service for several reasons. One of them is that every ad-tech company in the world, and all the large e-commerce companies in the world, want to bring A an ...

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