ClickandBuy launches P2P payments Facebook app

March 8, 2010

A new peer-to-peer (P2P) payment application for Facebook has launched, enabling users to send or receive money up to a value of €50

Buxter, has developed by ClickandBuy to offer a wide range of possible uses, from paying a friend a share of the previous evening’s restaurant bill, or giving someone money for their birthday, to making a donation in support of a charity.

The application is also targeting Facebook applications developers to boost their revenues.

To send money, users have to be connected to the intended recipient on Facebook. Select a friend’s name from a drop-down list, enter the amount to send, and it's sent, free of charge. To load money onto a Buxter account, users will need to set up a ClickandBuy account. They’ll be redirected to the ClickandBuy site to do this. Once this is done deposits to Buxter can be made via credit card, debit card, direct debit or Payzone voucher.

Monetising social networking contact

To receive this money, users just accept the Buxter application and enter an email address. Receiving money is also free of charge.

The money will sit in the Buxter account until sent to someone else, used for a purchase inside Facebook, or until the user wishes to withdraw it. Withdrawing money back to a ClickandBuy account – in order to access the money that has been sent to you – is charged at 1.9% (min. €2 or $3). And its developer added that the application will initially be available in Euros and US dollars.

Christian von Hammel-Bonten, ClickandBuy senior vice president and head of product management said: “From now on, Facebook users can not only share their status and pictures, they can also share real money in a way that is fast, easy and secure.”

Charles Fraenkl, ClickandBuy chief executive added: “Buxter is the application that will see Facebook members use the platform not just as a way to stay in touch but also as a fast, easy and secure way to exchange money or buy and sell products and services.”