TransferWise launches Facebook Messenger bot to transfer money
TransferWise has launched a bot on Facebook's Messenger system that allows users to transfer money using the instant messaging (IM) service. It is the first company of its kind to use Messenger to make international money transfers, and supports exchanges from the US, UK, Canada, Australia and Europe. The bot can also be used to update regular users with automatic currency rate alerts. Scott Miller, head of global partnerships at TransferWise, said the feature could be extended to other IMs in the future. The company claims to handle almost $1m in transactions a month, with more than 600 currency routes.

Online money transfer service TransferWise introduced a Facebook Messenger bot designed to help users send money without ever leaving their instant messaging (IM) app of choice. The so-called TransferWise Bot launched on Monday and should already be available to users in many parts of the world. The London-based company said that the bot currently supports transfers from the United States, Canada, Australia, United Kingdom, and the rest of Europe. The bot was programmed to guide users through online money transfers by assisting them with setting up transactions. Naturally, you’ll need a TransferWise account to use the services of the TransferWise Bot.

Users who regularly make payments between two currencies can ask the TransferWise Bot to send them rate alerts and keeps them notified about exchange rates on a daily basis. This functionality also extends to a larger number of currencies as users are able to ask for alerts for any number of currencies. Once you see an exchange rate you like, you can simply ask the bot to set up a transfer for you within Facebook’s Messenger app. Scott Miller, Head of Global Partnerships at TransferWise revealed that the TransferWise Bot was built using the TransferWise application programming interface (API) with the goal of facilitating the process of making online money transfers. While the launch of this bot doesn’t mean TransferWise succeeded in that endeavor, it’s an important step in the firm’s long-term strategy, Miller said. The company’s official also revealed how the TransferWise Bot may make its way to other popular IM apps in the future.

The peer-to-peer online money transfer service currently supports over 600 currency routes and is handling almost $1 million in transactions on a monthly basis, according to its own claims. The TransferWise Bot was integrated into Messenger thanks to a new functionality that Facebook launched back in April in an effort to draw third-party developers to its platform and turn its popular IM app into a standalone ecosystem that can even be used without a Facebook account. While it was already possible to send money in the United States using Messenger, the TransferWise Bot is the first tool that allows Facebook’s IM app to make international money transfers.