BBVA Chile launches money transfer app on Facebook

(AP)—The Chilean unit of Spanish bank BBVA is launching a service that lets people transfer money using Facebook.

The service begins March 3 and the bank says it's the first of its kind in Latin America.

It allows users to send and receive through Facebook on a secure platform without paying maintenance fees.

Bank officials say they are launching the service in Chile because Facebook is wildly popular in the country.

BBVA Chile Product Manager Andres Abarzua said Thursday that more than 90 percent of Chileans with access to Internet own a Facebook account. He says there are no plans to offer for cross border transactions this year.

The maximum monthly amount that can be credited and transferred is $300,000 Chilean pesos—about $535.


Explore further

PayPal lets Facebook friends send cash

© 2014 The Associated Press. All rights reserved.

Citation: BBVA Chile launches money transfer app on Facebook (2014, February 27) retrieved 22 January 2020 from https://phys.org/news/2014-02-bbva-chile-money-app-facebook.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
3 shares

Feedback to editors

User comments