PayPal launches Facebook app for transferring money to friends

PayPal has unveiled a Facebook app that lets bank account holders send money to friends.

The app, titled Send Money, is allows for choice to send either an ecard with money or just money with no card. User are simply required to select a card, choose a friend to send it to and then select how much money to send.

“The PayPal and Facebook infrastructure have now merged,” PayPal’s Anuj Nayar was quoted as saying. “This is another way to personalize the act of giving money.”

The app is said to be the first to enable peer-to-peer payments via Facebook and PayPal. And because it’s a peer-to-peer transaction, there is no transaction fee, though PayPal’s regular limits and international fees still apply.

“Sending money, person to person, is free,” PayPal Senior Product Marketing Manager JB Coutinho said. “If it’s funded by a PayPal balance or linked to a bank account, it’s free.”