Facebook launches direct payments app

by Gill Montia

Story link: Facebook launches direct payments app

Facebook has introduced a direct payments application that allows “friends” to transfer payments to one another.

Using Buxter, social networkers can now send Euros or US dollars, with Sterling due to be added to the list in the weeks ahead.

The service is provided by ClickandBuy and Buxter users first need to set up an account with the global online payment service.

No commission is charged for transfers between Buxter accounts, although transfers to other providers are charged at 1.9% commission with a minimum fee of €2. The maximum amount transferable is €50.

ClickandBuy senior vice president, Christian von Hammel-Bonten, explains the service is designed for small payments only, saying: “We’re not trying to compete with national banking systems.”