'Facebook’s money transfer solution to benefit Kenyan users’

FBFacebook users have to link their Visa or MasterCard debit cards to their Facebook accounts in order to access the money transfer service. (Image source: Johan Larsson/Flickr)Kenyan users will increasingly benefit from the introduction of money transfer service onto Facebook's instant messaging platform, according to digital finance experts in Kenya

Facebook has recently introduced a new feature that allows users of the social media platform to send money to each other using its money transfer service, which it will offer for free.

Frederick Abot, head of banking applications support at Cooperative Bank of Kenya, said that the area of mobile money needed more players for users to enjoy more benefits.

"People spend most of their time on instant messaging and social media platforms. Integrating banking and finance into that area will enhance usage and convenience, which will give rise to adoption and further development," added another expert.

Other experts noted that the integration of mobile money and digital finance platforms with social media and instant messaging platforms was the next step in the revolution of digital finance and mobile money platforms, especially for the Kenyan region.

The experts said that Facebook’s money transfer service was especially important for Kenya's growing digitally connected population.

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