Paypal has launched a Facebook app which will allow you to send money to your Facebook friends using your paypal account. This is especially great for Indian paypal users, who are unable to send money to individuals residing in India. This is probably one of the first facebook apps through which peer to peer payments are possible.
According to post appearing in Mashable, transactions through Paypal Facebook app do not have any transaction fees, however PayPal’s regular limits and international fees still apply.
Also, one interesting aspect of this Send Money app is that it has not been projected as a business app, but a more personalized app directed at individuals who wish to send greetings to their friends & families. Hence every send money transaction you make, the user needs to create a greeting card while sending the money.
To give this Facebook app a try, I carried out a sample transaction and I must say that it was as easy as 1-2-3!
Once user is logged into his/her Facebook account, just go to Send Money application and follow the 4 simple steps which are thrown at you in a simple wizard format.
Steps for Sending Money using Send Money Facebook App
- Select a Card
- Select the Facebook Friend you want to send money to
- Write a message to that friend
- Add Money
Once you have completed the 4 steps, it will ask you to login to your paypal account and authorization. On hitting the “pay” button, amount will be debited to your existing paypal balance or will be procured from attached Credit Card / Bank Account and will be sent to receiver’s Facebook account.
As I was just doing a trial, I did not go all the way and stopped just shy of clicking the “pay” button. So, unless Indian users are specifically restricted from sending money using Send Money FB app, your transaction should go through.
Like I said earlier, for Indian users this will be of great help, as they have been unable to send money to users in India. They may just have found a way to send money now!
Give it a spin and let us know how your transaction got through!