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Moneybookers launches online payments application on Facebook

16 May 2008  |  12761 views  |  0 Dot COM

European online payments outfit Moneybookers has launched a Facebook application that enables account holders to send and receive money via their profile on the social networking site.

Moneybookers says the application - which is currently in beta mode ahead of a full roll out in June - will enable accountholders to make payments to and from anyone on Facebook.

Moneybookers says that whilst online micropayments have become increasingly popular, some consumers are put off by the fees that third party payment services charge. Also, the recent explosion in identity theft has left many people concerned about providing personal information and credit card details over the Internet.

"Nowadays people don't want to leave traces of their personal information everywhere they go online. The benefit of Moneybookers is that once you've created a virtual account, you can rapidly and secure send and receive money without having to give out personal information to anyone else," says Martin Ott, managing director, Moneybookers.

The company is also pitching the application as a "low cost fundraising" tool that enables accountholders to raise sponsorship money or charitable donations, collect debts and request participation fees.

"Our customers can now collect money their friends owe them or launch a fundraising appeal with minimal hassle and without having to pay out exorbitant fees to third parties," adds Ott.

Earlier this year online investment club Cake Financial opened for business on Facebook, offering users the opportunity to track and share their investment portfolios and trading activity with their social network.

Person-to-person lending platforms Prosper and Lending Club have also tapped Facebook to target potential customers.

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