August 5, 2022
Facebook Financial or F2 Formed to Focus on Payments

Facebook Creates a Payments-Focused Financial Group

Facebook has formed a new payments-centric group, called F2 or Facebook Financial, to work exclusively on its financial products…

As the financial world continues to change to catch up with the times, social media companies are also trying to keep pace. Facebook announced its own cryptocurrency, Libra, back in June of 2019 and slated for launch later that year. But, it was delayed until this year and might not make it to market before the end of 2020. Facebook Pay is another service, as is WhatsApp Pay. So, the company is consolidating all its payments initiatives into a single group.

Facebook Financial or F2 Formed to Focus on Payments

Basically, the new Facebook Financial or F2, will work exclusively on its various payments technology. This includes projects like Novi (formerly called Calibra), which is the company’s digital wallet that’s designed to work with Libra. Plus, the payment systems available through its other subsidiaries, such as Instagram and Messenger.

The creation of the group makes sense because such projects involve government regulators, with different standards from country to country. The leader of Facebook Financial is David Marcus, who is not coincidentally, also the co-creator of Facebook Libra and has extensive experience in such matters.

Ashley Lipman

Ashley Lipman is a super-connector with Outreachmama who helps businesses find their audience online through outreach, partnerships, and networking.

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