Facebook has introduced a new bot under its Facebook messenger segment which will allow users to send money via Facebook. The bot is now a real threat to MoneyGram and Western Union because in a split of a second, you will be able to send money to any country without visiting a bank or a financial institution.
The messenger bot is powered by TransferWise, and completes money transfers and guides users through the process.
The beauty of using Facebook Messenger is that there are no hidden charges; TransferWise will charge users they usual exchange rate, which is 1 % of the money being transferred.
“Our mission at TransferWise is to bring faster, cheaper, and more convenient international money transfers to everyone in the world. Building the TransferWise bot for Messenger is a great step in that direction,” TransferWise Head of Global Partnerships Scott Miller said in a statement. “It’s also a powerful example of how our API can be used to seamlessly integrate TransferWise into almost any messaging, bank or business payment system.”
