Facebook, recently rebranded as Meta, is introducing a new feature that will allow users of its messenger app to calculate and split expenses.
Dubbed Split Payments, the new feature will be made available for Facebook Messenger users in the US this week.
Split Payments can be accessed by clicking on the ‘Get Started’ button in a group chat or the Payments Hub in Messenger.
The users can then divide a bill or modify the contribution amount for each participant, with or without them being included in the bill.
This request will be sent and viewable in the group chat thread, after entering a personalised message and confirming the Facebook Pay details.
Meta said announcing the new feature: “If you’ve struggled with dividing up (and getting paid back for) group dinners, shared household expenses, or even the monthly rent, it’s about to get easier. Next week for Messenger fans in the US, we’re starting to test Split Payments, a free and fast way to share the cost of bills and expenses.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Other Facebook moves in recent years
In August last year, Facebook reportedly set up a new financial group called Facebook Financial – internally called F2 – to run its payment projects.
In April last year, the social media giant decided to revamp its cryptocurrency project Libra to secure regulatory nod.
The project, which was first announced by the firm in June 2019, will allow its billions of users to make financial transactions worldwide.
In 2019, Facebook also launched Facebook Pay to enable its users to send and receive money across Facebook, Messenger, Instagram and WhatsApp.