Focussing on innovation, the social media giant has recently
launched Facebook Pay in the US.
This system gives users the opportunity to process transactions across
Messenger, WhatsApp and Instagram.
How does it work?
Users will be able to add their credit or debit card to the new payment system. They will have the opportunity to choose if they want to share this information in certain apps or across all Facebook applications. In the beginning, this service will be available on Facebook and Messenger to pay for fundraisers, in-game purchases, event tickets, person-to-person settlements and select pages on the Facebook Marketplace. The firm has also announced that it will soon be rolled out on Instagram and WhatsApp.
Users will be able to add their credit or debit card to the new payment system. They will have the opportunity to choose if they want to share this information in certain apps or across all Facebook applications. In the beginning, this service will be available on Facebook and Messenger to pay for fundraisers, in-game purchases, event tickets, person-to-person settlements and select pages on the Facebook Marketplace. The firm has also announced that it will soon be rolled out on Instagram and WhatsApp.
While consumers might wish to try out this service so that
they can buy goods directly from their social networking apps or to send money
to their peers more easily, Facebook will have to compete with giants such as
Google Pay or Apple Pay. The firm is hoping that it will be able to leverage
its huge user base to ensure that this project is a success. However,
considering its history of handling personal data, the fact that Facebook
Pay will be accepted by users remains to be seen.
Facebook
Pay will soon be integrated in WhatsApp
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