There has been a lot of rumor around Facebook lately relating to the social network possibly including some sort of payment service. First and foremost was the hiring of former Paypal president David Marcus as the new head of Facebook Messenger.
Marcus was snapped up by Facebook in June, and since his employment began all sorts of stories have come out, pointing to Facebook Messenger incorporating a payment feature.
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Twitter user Andrew Aude was poking around in the FB messenger app using Cycript, a tool which lets the user explore the inner workings of app software, when he discovered that the rumors may possibly be true. According to screenshots from his Twitter account, the app already has the feature built in, all Facebook has to do is activate it.
The impact of social payments is obvious – it allows global money transfer, with no cost unless Facebook decides to charge one. Ultimately this could compete with existing money transfer services, as well as those that are exclusively online, such as Paypal.
The upcoming Apple Pay feature on the iPhone 6 could also be at risk as well, although the device’s Touch ID system could greatly enhance the security of any app based money transfer service. As these features are beginning to appear, security features such as ID could very well become a must for smartphones.
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The Facebook messenger App also has its own features that could increase security. Already the app has permissions to log the user’s location and use the camera and microphone. Whilst it’s not a certainty, perhaps the app could use these features in the event a phone was stolen and payments were being made. The permissions the app has have caused controversy recently, although the accusations that the app can ‘spy’ on the user are mostly exaggerated. Read more at the ‘peace of mind’ link below.
One thing is for sure, the inclusion of payments in the app is an imminent prospect in some form or another. What kind of security Facebook will put in effect remains to be seen.
Source: Andrew Aude on Twitter
Via: Techcrunch
Peace of Mind: PC Advisor’s Article on why FB Messenger Isn’t Spying On You