RBC first to bring P2P electronic money transfers to Facebook Messenger

RBC is to launch a social person-to-person (P2P) electronic money transfer service for customers to send money to Facebook Messenger contacts, right from within the RBC app.

RBC is to launch a social person-to-person (P2P) electronic money transfer service for customers to send money to Facebook Messenger contacts, right from within the RBC app.

As the first North American financial institution to bring a P2P service to the social network messenger, RBC will allow customers to send an Interac e-Transfer through its app, without sharing any personal or financial information.

"We are excited to bring this new capability – the first of its kind in North America – to Canada and to our clients, who we know are avid Facebook users," said Dave McKay, group head, personal and commercial banking, RBC. "An Interac e-Transfer is typically a result of a social interaction, such as paying your friend for concert tickets or dinner. Our social P2P solution provides our clients with the added simplicity, convenience and choice to bank in the manner in which they interact on a daily basis, with the security they expect from RBC."

The RBC Canada app will allow clients to simply select a friend or family member from their Facebook Messenger friend list, transfer the funds and provide a message for the receiver. The receiver will get a message in their inbox, and will be directed to log in to the financial institution of their choice to deposit the funds, just like with any Interac e-Transfer present in the market.

"Every day, 9.4m Canadians use Facebook on their mobile device to connect with people they care about, and this new app provides a meaningful service for RBC customers," said Jordan Banks, global head of vertical strategy and managing director, Facebook Canada.

According to RBC, the service will be available on iPad, with iPhone coming in February 2014 and other platforms later in the year.
In July, RBC unveiled the RBC Secure Cloud solution that allows clients to securely pay for purchases using their mobile devices, storing client data in the cloud instead of the phone.

Related articles:

RBC unveils Secure Cloud mobile payments service

RBC and Interac successfully complete first NFC payment in Canada

Coca-Cola rolls out contactless payment vending machines in Canada