Money sharing comes to Facebook

Friends on social networking site Facebook can now send small payments directly to each other via an application called Buxter.

Buxter handles transactions in Euros or US dollars, with plans to launch in Sterling in the next four weeks.

Other currencies are subject to a 5% conversion fee at the point of upload to a Buxter account.

The company behind the application is ClickandBuy which operates an online payment service across the web.

More than 13 million people across the world already have accounts with it, and a ClickandBuy account is required in order to use Buxter.

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• Buxter money transfer service launches on Facebook (telegraph.co.uk)