American Express Co. announced Tuesday a new Facebook application that allows the social network's users to send and receive funds.

The app is meant to increase the appeal of Amex's digital wallet, Serve, which it is marketing to a broader audience than would normally apply for Amex credit cards.

An earlier Facebook app, called "Pay Me Fool," allowed Serve users to request funds from friends but did not allow users to move any money. The earlier app was part of a pilot in Eugene, Ore., involving college students and local farmer's markets.

Amex also has a "Link, Like, Love" app, launched last year, that offers deals to Facebook users based on their interests.