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PayPal Teams Up With Facebook| Technical by Staff Reporter
To allow cash transfers through a Facebook application
PayPal, the largest online payments company in the world, is teaming up with Facebook, the largest social media networking site in the world, to make sending and receiving money easier than ever before.
“Today, we’re bringing the largest online payments company to the world’s largest social network to make it even easier to send money to your friends and family directly from Facebook,” read the PayPal blog on Thursday. “Our new Send Money application on Facebook allows users to turn those wall posts into actual gifts.”
According to PayPal this service would be free for people living in the United States who paid via their bank account or PayPal balance (and where the beneficiary also lives in the United States), although no details on costs for those living outside of the United States was provided.
In way of explanation of the Facebook app the online payments firm said, “PayPal is going to where friends and family connect now. According to Facebook, about 50 percent of its 800 million users log onto the social media network daily and average about 130 friends.
“In a world that’s turning increasingly to social media, we are giving our customers the flexibility to send their money to whoever they want, whenever they want and for whatever (occasion) they want,” added PayPal.