Social Site Allows Money Sharing

Facebook app enables transactions among friends.

by staff writer
- Mar 02, 2010

Facebook friends can now send and receive money without leaving the social-networking site, thanks to a new application by online payment service ClickandBuy.

Buxter allows Facebook users to send their Facebook friends up to 50 euros (or the equivalent) for free. Developers say the application has multiple uses, from paying someone back, to making purchases, to giving a friend birthday money.

To send money with Buxter, users simply set up a ClickandBuy account, deposit funds into the account and then send the desired cash to their friends. To receive money, recipients must allow the Buxter application on their Facebook page and enter their e-mail address, according to ClickandBuy. ClickandBuy will charge a 1.9-percent commission when recipients withdraw funds.

Users can make transactions in euros and U.S. dollars. Other currencies are supported, although these require a 5-percent conversion fee.

"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," says Christian von Hammel-Bonten, senior vice president and head of product management at ClickandBuy.

About the Author

Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.

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