Facebook Pay is a new payment system for WhatsApp, Instagram, Messenger - Infire Tech & Trends - Technology, Entertainment, Arts and Crafts by Infire Media

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Facebook Pay is a new payment system for WhatsApp, Instagram, Messenger

Facebook Pay is a new payment system for WhatsApp, Instagram, Messenger

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Facebook is launching a new payments system today, appropriately named Facebook Pay. It will be available across Facebook, Messenger, Instagram, and WhatsApp, and it’s designed to facilitate payments across Facebook’s popular social networks and apps. You’ll be able to use Facebook Pay to send money to friends, shop for goods, or even donate to fundraisers. The service will be separate from Facebook’s new Calibra wallet and the Libra network, and it’s “built on existing financial infrastructure and partnerships,” according to the company.

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Facebook is planning to start rolling out Facebook Pay on Messenger and Facebook in the US this week. It will initially be available for fundraisers, person-to-person payments, event tickets, in-game purchases, and some purchases from pages and businesses that operate on Facebook’s Marketplace. “Over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp,” explains Deborah Liu, Facebook’s vice president of marketplace and commerce.

Facebook Pay will be available in the settings section of the Facebook or Messenger apps, and it will support most debit and credit cards and PayPal. Facebook is using Stripe, PayPal, and others to process these payments.

Facebook isn’t revealing exactly when this payment system will be available across all of its apps, nor when it will launch internationally. Facebook Pay comes just weeks after a large number of payment companies dropped out of Facebook’s Libra project. PayPal, which is supporting Facebook Pay, was one of the first companies to distance itself from the Libra Association, the nonprofit organization that oversees the creation of the cryptocurrency and its rollout. Read more from Source Website

Facebook Pay | payments system | Social network

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