Plus   Neg

Facebook Pay Rolling Out This Week

facebookpay 111319 lt

Facebook has launched its new payment platform called 'Facebook Pay' in the U.S., joining other tech giants like Google and Apple that have their own payment platforms.

The new service will be available across Facebook and its associated apps - Messenger, Instagram and WhatsApp, the social media giant said in a blog post.

The announcement of the new service comes ahead of the expected launch of WhatsApp Pay in India by the end of this year.

Facebook Pay can be used to make payments across Facebook apps for shopping, donation, and sending money. The payment service supports most major credit and debit cards as well as PayPal, and is separate from the Calibra wallet which will run on the Libra network.

Facebook Pay will be launched on Facebook and Messenger this week in the U.S. for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger, and purchases from select Pages and businesses on Facebook Marketplace. Over time, the service will be available across Instagram and WhatsApp.

After adding a preferred payment method once, Facebook Pay can be used where available to make payments and purchases on the Facebook apps. Facebook said it will not automatically set up Facebook Pay across the apps unless a user chooses to do so.

By using this platform, one can view payment history, manage payment methods and update settings in one place. One can also get real-time customer support via live chat in the U.S.

According to Facebook, it has designed Facebook Pay to securely store and encrypt the user's card and bank account numbers, perform anti-fraud monitoring to detect unauthorized activity, and provide notifications for account activity.

In July, the FTC had imposed a $5 billion penalty on Facebook for violating consumers' privacy and failing to protect users' data over the social media giant's 2018 Cambridge Analytica scandal.

For comments and feedback contact: editorial@rttnews.com

Technology News

Follow RTT