P2P payments: Amex launches Serve app on Facebook

American Express has released a Facebook app for its Serve digital wallet platform that allows its customers to send, receive and request money from directly within the social network.

To make a payment, registered Serve users choose a beneficiary (Facebook friends are automatically populated directly into the app's interface) to send money to, enter the dollar amount, and click “send”.

Once completed, a message is immediately posted to the recipient's Facebook wall providing directions on where to collect their money or to sign up for Serve. Users can also request money through the app, picking the relevant Facebook friend who owes them and sending a request.

Last November PayPal introduced a similar app that lets users send money to friends within the social network.