For so long, there could be two things on their product catalog: the old-school social network and the new-age home shopping app. Facebook recently announced a new feature called Facebook Pay. It aims to consolidate the payments across all of its apps and services in order to provide easier access and use. Users of Facebook Pay will have to add their preferred payment method first in order to use the service.
Facebook is in the process of minimizing the work you have to do when using it. They’re making payments easier to make and more secure as they build out their system. Facebook Pay will be similar to PayPal. We know that your personal information won’t be given to any stores and apps you transact with. It will remain with Facebook, which is probably just looking to collect this info as well! Security has become a primary concern as AI continues to grow. The data which you share is encrypted and monitored for fraudulent activity, so you don’t have to worry about anything.
Facebook Pay is powered by debit or credit cards. It is not connected to Libra and it can be used in Calibra. The service works with Facebook’s existing infrastructure. There does not, for now, appear to be any connection to Libra cryptocurrency.
The Facebook Pay service will start from the US before expanding internationally to make transactions easy for charities, in-game transactions, ticket purchases, and user-touser money transfers. Specific businesses in the Facebook Marketplace will only be available in certain countries. Its future is still yet to be determined, but the successful launch of IG Stories has made people optimistic about its success.
If you liked this article, then you might also enjoy this one.
Author: PC-GR
The World of Technology
