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Facebook roundup: Money transfers over messenger and relevancy score for ads

Now money transfers over Facebook's messenger  Facebook announced that it will be allowing peer-to-peer money transfers over its Messenger application and it will be rolled out first in the United States. To send money users will see a "$" icon on their Messenger application and will have to tap on it and type in the amount they want to transfer. Users will then have to tap the top right and add your debit card details to send money. To receive money, users will have to open the conversation and  tap Add Card in the message and add debit card details to accept money for the first time. However, Facebook says it may take about three days for the money to be transferred into a bank account. Facebook also has added security features and says you can add a PIN to authenticate money transfers. On iOS devices, users can also enable Touch ID to use fingerprints as authentication. There's no word on when it will be rolled out in India though and Facebook will face a very tough regulatory environment with the Reserve Bank of India which insists on two-factor authentication for card not present transactions and it will be interesting to see what the Apex bank makes of Facebook's safety features. Facebook also joins a number of other messenger services which is looking to add payments in their services. LINE messenger last December said that it is looking at extending its mobile payment service LINE Pay globally. Last year, Snapchat introduced Snapcash and allowed its users…

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