You Could Soon Be Able To Send Your Friends Money Using Facebook Messenger
PayPal, Venmo, Square, and even Clinkle might have a new competitor on the horizon: Facebook Messenger.
According to hacked screenshots by Stanford computer science student Andrew Aude (via TechCrunch's Josh Constine), payments would send the same way you can now send a photo. You'll be able to add a debit card to Messenger, use one that's already on file with Facebook, and add a PIN for extra security.
This isn't the first time signs pointing to upcoming payments has been found in messenger, TechCrunch reports. Security researcher Jonathan Zdziarski found code that said as much last month.
Aude told TechCrunch how the payments work (at least so far):
Aude played around the with feature and its code. He tells me you simply hit a button to initiate a payment, enter the amount you want to send, and send it. Facebook keeps the transaction private and doesn’t publish anything about it to the News Feed.
In the version Aude investigated, Messenger payments only worked with debit cards, not credit cards or bank accounts. That’s likely because money transfers are cheaper to process when they come from debit cards and don’t require approvals or numbers some people don’t know off-hand like connecting a bank account. Aude speculates that “based on my understanding of the debit interchange rates, each transaction will cost roughly $0.40 to $0.50 (Durbin swipe fee + ACH fee). The app didn’t mention a fee to end, so it’s probably free, at least initially. Over time they might add a $1 fee.” This can’t be confirmed, though.
In June, president of PayPal David Marcus stepped down to join Facebook. People speculated that it could be because mobile payments could soon be coming to Messenger. Neither Messenger nor WhatsApp, the messaging app Facebook bought in February, allow payments. But other huge messaging apps, such as WeChat and Line, do.
"Mark shared a compelling vision about Mobile Messaging," Marcus wrote in a Facebook post at the time. "At first, I didn’t know whether another big company gig was a good thing for me, but Mark’s enthusiasm, and the unparalleled reach and consumer engagement of the Facebook platform ultimately won me over. So ... yes. I’m excited to go to Facebook to lead Messaging Products. And I’m looking forward to getting my hands dirty again attempting to build something new and meaningful at scale."
Read more: http://www.businessinsider.com/facebook-messenger-payments-2014-10#ixzz3FMw22JTZ
Sony announced on Monday that the PlayStation TV will be available on Oct. 14, and will launch with 700 games.
We got our first look at the set-top box at the E3 video game conference in June. The PlayStation TV will allow you to play PS3, PlayStation One, and PSP classic games through Sony's streaming-game service, PlayStation Now. It will also give you access to music and video-streaming services, much like Amazon's Fire TV or the Apple TV.
It will also connect with a PlayStation 4, allowing you to play PS4 games on another TV in your house, using what it calls Remote Play. The only caveat is that a wired internet network connection is necessary.
The PlayStation TV will be $99 for the system itself. You'll also need to buy a DualShock 3 controller, which must be purchased separately and costs about $40. Or for $139, you can a bundle that includes a controller and a Lego game, as well as an 8GB memory card.
The device has been out in Japan for nearly a year under the name Vita TV, but was marred by a fairly limited library of games and mediocre streaming services.
It'll be interesting to see what Sony has in mind for the future of the set-top box, or if it's just trying to throw its hat into an already crowded ring full of Apple TVs and Rokus. The Fire TV launched with more than 100 games back when it debuted earlier this year. And Microsoft doesn't offer a set-top box or any sort of "remote" play functionality with its Xbox console.
According to Business Insider Intelligence, video game consoles are the most popular streaming devices, with 54% of the market.
Perhaps with a launch library full of 700 games and the promise of Remote Play, the PlayStation TV will offer people an alternative to a standalone streaming device, which costs way less than a full gaming console.
You can preorder a PlayStation TV now.
Read more: http://www.businessinsider.com/playstation-tv-preorders-2014-9#ixzz3E9ngGqEE