Social Networking giant Facebook is gearing up to release two new features in the coming updates. The new features which currently under testing are Red envelope feature and breaking news tag feature.
The Facebook Red Envelope is a Payment feature that allows users to send money to others. Secondly, the FB Breaking News Tag feature which helps publishers list the latest happenings around the world. Facebook has not made any official announcement regarding the updates mentioned above. These two features are first spotted by Matt Navarra, director of social media at the online publication The Next Web.
Red envelopes are used for giving gifts to others on occasions like Marriages, New Year and other festivals. Similarly, Facebook Red Envelope feature is giving cash gifts using the same platform online. It means Peer-to-Peer cash transaction like the other payment gateways.
Talking about the red envelope feature is also interesting. Red envelopes are typically used for gift giving, especially for holidays like Chinese New Year, but the ability to gift someone money on Facebook would mean Facebook could also facilitate peer-to-peer payments.
The company already offers transfer of payments in its messenger application but not on the Facebook App or main website. This move by the tech giant is to market the huge user base and also want users to buy/sell items through Facebook.
According to the reports by Recode, Facebook has confirmed that the breaking news tag was not currently under testing but is set for a future test. When asked about the Red Envelope Feature the Facebook’s representative responded that FB is always testing new product experiences, but there’s nothing specific to talk about at this time. So it is also possible that these new features will never be launched.
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