International money transfer company, TransferWise, has now made international money transfer possible using Facebook Messenger.
The UK-based company said yesterday that it had developed a Facebook Messenger “chatbot”, or an automated program that can help users communicate with businesses and carry out tasks such as online purchases.
So if you’re a TransferWise customer, you can send money – and set up rate alerts – without ever leaving the comfort of Facebook’s Messenger app.
Facebook already allows money transfer locally in the United States via its Messenger app but this is the first time it is launching this service internationally through TransferWise. This service was muted in 2014.
This services is done with the aid of the TransferWise bot. With the TransferWise bot,
- You can use the bot to setup transfers from the US, UK, Canada, Australia or Europe.
- When you’re sending money, it’ll guide you through each step.
According to Scott Miller, head of global partnerships for TransferWise, “While the TransferWise chatbot is now only available in Facebook Messenger it can be adapted to work with other popular chat services.” He added that the service would eventually be extended to work in other countries and money transfer routes that the company operates in.
TransferWise was launched in 2011 by Estonian friends Taavet Hinrikus and Kristo Käärmann out of frustration with the high fees they were being charged by banks for international money transfers.
The company, which is valued at more than $1 billion, is backed by several high profile investors including Silicon Valley venture fund Andreessen Horowitz, Virgin Group founder Sir Richard Branson, and PayPal co-founders Max Levchin and Peter Thiel, through his fund Valar Ventures.
Customers in more than 50 countries send roughly $1 billion through its website every month.
