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December 11, 2013updated 04 Apr 2017 4:09pm

RBC to bring P2P electronic money transfers to Facebook Messenger

Royal Bank of Canada has announced that it will provide a social, person-to-person (P2P) electronic money transfer capability for customers to send money to Facebook Messenger contacts.

By Verdict Staff

Royal Bank of Canada has announced that it will provide a social, person-to-person (P2P) electronic money transfer capability for customers to send money to Facebook Messenger contacts.

The app will work directly from RBC Canada app and it has been developed with Facebook.

It will allow customers to send an Interac e-transfer, a Canadian system to send and receive money without sharing any personal or financial information, directly to their Facebook Messenger’s contacts.

Dave McKay, group head, personal and commercial banking of RBC Royal Bank stated: "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".

Jordan Banks, global head of vertical strategy and managing director at Facebook Canada said: "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".

Up until now, sending an Interac e-Transfer required the recipient’s email address or a mobile phone number. Now, trough this app, clients will simply have to choose a friend or family member from Facebook Messenger’s list, transfer the fund and provide a message for the receiver.

This new capability is currently only available on iPad, it will come to iPhone in February 2014 and other platforms later in the year.

This announcement follows the one of Secure Cloud in June 2013, a solution that allows clients to more safely and securely pay for purchases using their mobile devices.

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