Facebook announced last Tuesday, November 12, the Facebook Pay, its new payment platform, integrated with the company's social networks: WhatsApp, Instagram, Messenger and of course Facebook.
This new system was developed to facilitate payments on social networks and business applications. This way, the user can use the Facebook Pay to send money to friends, buy products and even donate for fundraising.
Although the announcement comes months after Facebook announced the launch of its own cryptocurrency, Libra, the platform in question has nothing to do with the digital wallet, which has already lost its investors 1 / 4 last month.
This novelty then emerged to cover a need identified by users of the services: where purchases were required within these networks or messaging services, they were limited. Thus, the payments service will allow users to make purchases within pages or on the Marketplace, or transfer money between users, always with a simple, fast and secure process, thereby creating a way to avoid providing credit card data.
At this early stage, and to ensure limited testing, it may only be used in the United States, however, the Facebook Pay will only be limited to the service itself and Messenger, and will later be extended to Instagram and WhatsApp and allow integration with most credit cards as well as PayPal itself.
Facebook also wants to underline that its new payment service is above all independent and trusted 100. This is an important step, as it allows payments without physical cash intervention and without having to provide credit card data for, for example, the purchase of tickets, page elements or simply transferring money or contributing to causes. .