Facebook may integrate payment service soon

Social media platform Facebook is gearing up to test the feature "red envelope" that would enable users to send money to others from the platform. Besides, the platform may also begin the testing of the feature "breaking news" which will allow publishers to use to make people aware of the latest happenings around them.

The two new features, which are not officially under testing mode yet, were first spotted by Matt Navarra, director of social media at the online publication The Next Web.

"Facebook is always testing new product experiences but there's nothing specific to talk about at this time," a Facebook representative was quoted as saying. The report pointed out that it is also possible that these features will never be launched.

In March this year, Facebook introduced new payments feature for Facebook Messenger that allows users connect their Visa or Mastercard debit card and tap a “$” button to send friends money on iOS, Android, and desktop with zero fees. The feature was first rolled out in the U.S.

The social media platform is now looking to woo Indian businesses through its Messenger app. Apart from collaborating with marketers and advertisers to drive business growth via social media, the company is looking to onboard startups on its Messenger platform.

Currently, multiple startups are utilising the platform's full-funnel marketing solutions to drive growth. However, apart from its “Lead” ads and “Dynamic Ads” the company has now given an option for a business to chat and transact on Facebook Messenger.

Startups like BigBasket, Swiggy, and HouseJoy have signed up for a feature that allows them to target, connect, and transact with customers on its instant messaging platform ‘Messenger’.

Globally, the feature was announced last year, but it just made an India debut before Diwali. The new feature allows Facebook and Messenger account to browse through catalogues, make purchases, and complete payments.