„Facebook Pay will provide people with a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp.”, the company said in a blog post.
Facebook Inc said on Tuesday it was launching Facebook Pay, a unified payment service through which users across its platforms including WhatsApp and Instagram can make payments without exiting the app, according to Reuters.
The social network said the service would allow users to send money or make a payment with security options such as PIN or biometrics on their smartphones.
With Facebook Pay you can:
# Add your preferred payment method once then use Facebook Pay where available to make payments and purchases on our apps, instead of having to re-enter your payment information each time;
# Set up Facebook Pay app-by-app, or choose to set it up for use across apps (where available) — that means we won’t automatically set up Facebook Pay across the apps you are active on, unless you choose to do so;
# View payment history, manage payment methods and update your settings in one place;
# Get real-time customer support via live chat in the US (and in more places around the world in the future);
# Clearly understand which payment services are part of Facebook.
Chief Executive Officer Mark Zuckerberg said earlier this year the company is planning to unify the messaging infrastructure across its platforms.
He said the company would encrypt conversations on more of its messaging services and make them compatible as direct messaging was likely to dwarf discussion on the traditional, open platform of Facebook’s news feed in a few years.
Facebook said the new service will collect user information such as payment method, date, billing and contact details when a transaction is made and that it would use the data to show targeted advertisements to users.
Facebook Pay will begin rolling out on Facebook and Messenger this week in the US for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and businesses on Facebook Marketplace.
„And over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp.”, the company said.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
