PayPal has coded an app that allows users to send each other cash on Facebook.
"We are bringing the largest online payments company to the world's largest social network to make it even easier to send money to your friends and family directly from Facebook," explained PayPal rep JB Coutinho.
"Our new Send Money application on Facebook allows users to turn those wall posts into actual gifts," she said.
Money sent to Facebook friends and family through PayPal can be personalized with digital greeting cards, videos, or pictures.
Fortunately, there is no fee from PayPal for such transfers to Facebook members in the United States. Meaning, if the transactions are conducted via accounts with banks or PayPal, the EBay owned financial company will not tack on a service fee.
The PayPal Facebook app was released just as Skype upgraded its software with a new feature that allows Facebook users to make video calls to each other within Skype itself.
With 800 million members, Facebook is the biggest social networking site in the world, with new features and options being rolled out every day. Members can now look each other in the eye during a chat, and they can also send money back and forth with ease.