Facebook will soon allow users to send money to their friends

With the number of digital transactions around the world increasing by the day, Facebook is also looking to improve users' payment experience on its platform. Making a move in the same direction, the company may soon start testing ''red envelope" payments feature that will allow users to send money to others on the platform.

There'a also a new 'breaking news tag,' to be used by publishers to create awareness regarding the latest happenings among the users. Both these new features,not officially under testing mode yet, were first spotted by Matt Navara, director of social media at The Next Web.

NEW: Facebook is testing a ‘Red Envelope' feature to send cash gifts to friends pic.twitter.com/GsADKlKjqH

— Matt Navarra ⭐️ (@MattNavarra) November 3, 2017

As per Recode, Facebook has confirmed that the breaking news tag was for a future test but declined to share more details. Recode said that the company neither gave information about “red envelope” feature nor denied its existence. “Facebook is always testing new product experiences but there’s nothing specific to talk about at this time,” a Facebook representative was quoted as saying. The report also noted that it is possible that these features will never be rolled out.

Additionally, Facebook will support the subscription-based news product in Instant Articles for both metered models (starting with a uniform meter at 10 articles) and “freemium” models (the publisher controls which articles are locked).