Facebook Pay is a new tool that unifies payments and more into one place across Facebook, Instagram, WhatsApp, and Messenger…
While Facebook is in the midst of trying to launch its Libra cryptocurrency, the company is also attempting to make purchases and money transfers a bit easier.
Facebook Pay Debuts in the US on the Mobile App and Desktop Site
The new tool is called Facebook Pay. Users can simply setup a payment method, then they are able to shop on Marketplace, buy tickets, send contributions to fundraisers, or send money to others. Deborah Liu, the VP of Marketplace & Commerce, writes:
“People already use payments across our apps to shop, donate to causes and send money to each other. Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected.”
Facebook Pay is a familiar take on similar services such as Venmo or Apple Pay. Basically, it offers users a bit more convenience for making purchases and transferring money without having to leave the Facebook ecosystem.
Of course, people using it will generate a whole lot of useful data for Facebook. (Which is the reason Google states it doesn’t sell Google Pay user data to advertisers and won’t do the same for its planned checking account services.)