If Facebook's service is like the popular payment app Venmo, it will allow people to pay each other for anything they like, whether it's rent money or a cab ride. People use the free app to pay their friends by hooking Venmo up to their bank accounts.
This development shouldn't come as a huge surprise, since PayPal's president, David Marcus, moved to Facebook to lead the company's messaging products last summer. Still, it's hard to imagine people trusting Facebook with their money, since the social media company has been so sketchy with people's private data.
The last time Facebook tried to get into e-commerce (with "Facebook Gifts") it didn't go so well. Facebook discontinued this feature last July.
source: huffingtonpost.com By Alexis Kleinman