Facebook has announced that the app they forced on you their popular Facebook Messenger app will soon let you quickly send money to your friends.

The new feature is straightforward: You load up the Facebook Messenger app, select your friend, and tap the new $ icon in between the ‘microphone’ and ‘like’ icons. Then you’ll input the amount you wish to send your friend and hit “Pay.” Quick and easy!

Facebook will require a Visa or MasterCard debit card with a U.S. bank account to use the service, and it may take one to three business days for money you receive to become available depending on your bank. You can also set up extra security layers like a pin code or TouchID authentication (on iOS) to make sure no one grabs your phone and starts sending themselves hundreds of dollars.

Facebook is clearly going after popular easy-payment service Venmo, which lets you quickly pay friends with its own iOS/Android app. Venmo has become very popular over the past year or two and has a fun feature where you can see what your friends are paying each other for. This writer enjoys writing sexual acts in the description box to mess with friends.

Certainly Venmo won’t be happy about today’s announcement because they’re about to be threatened by the world’s largest social network.

SnapChat also launched an easy payment system within their own app called Snapcash last November, but the service hasn’t taken off like Venmo’s.

The new Messenger payment system will arrive “in the coming months” in the U.S. for Android, iOS, and Desktop, according to Facebook.

Will you use Facebook’s forthcoming payment system?

If you’re concerned about the security of the new service, visit Facebook’s blog where they explain why they can be trusted with your money.