PayPal has launched a new app for Facebook, "Send Money," that you can use to, well, send money directly to your friends on the social networking site.

The app lets you choose to either send a monetary transaction on its own, or to include a personalized e-card—say, for a birthday or other special occasions where money passes hands in celebration.

While PayPal states there are no transaction fees for using Send Money on Facebook, PayPal's regular limits ($10,000 per transaction), and fees for sending international payments will still apply.

The Send Money app is the first peer-to-peer payment system via Facebook and PayPal, although there are other ways to make a payment with PayPal through Facebook, as tech news site Mashable points out.

Go Ahead - Make Someone's Birthday, Holiday or Any Day Special with the New PayPal Send Money App for Facebook [PayPal]
PayPal Launches Facebook App for Sending Money to Friends [Mashable]