Facebook might soon let you send money using red envelope feature

With the increase in the digital payment and online money transfer options, it looks like Facebook doesn't want to be left behind in the race.'

We say so as Facebook has started testing a couple of features including the "red envelope" payments feature. According to Matt Navarra, the director of social media at The Next Web, the "red envelope" feature will enable users send money to others and the "breaking news" tag can be used by publishers to create awareness regarding latest happenings among the users.

According to the report, Facebook confirmed that the "breaking news" tag was meant for a future test but there are no further details regarding it. Also, the company has not revealed anything about the "red envelope" feature. The report quotes a Facebook representative stating, "Facebook is always testing new product experiences but there's nothing specific to talk about at this time."

The payment feature - "red envelope" might be a welcome among the users if it is rolled out as they need not move out of the social networking platform in order to send money to others. Going by the report, there is a possibility for these features to not see the light of the day too. Earlier this year, Facebook rolled out the group payments feature as a part of its Messenger app. This feature lets users pay individual members or everyone within a group.

In addition to the "red envelope" feature and "breaking news" tag, Facebook has been surfacing in the headlines for a new feature called Instant Articles that is rolled out to the small group of publishers across Europe and the US. The Instant Articles is a subscription-based news product for the metered models starting with a meter of 10 articles and a freemium model that will have locked publisher controls.