After the Libra project stumbled .. Facebook returns a new electronic payment service
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The service will enable users to send money to friends, shopping and fundraising
Facebook has launched Facebook Pay, a new payment system via Facebook, Messenger, Instagram and WhatsApp, designed to facilitate payments via popular social networks and Facebook applications. The service will enable users to send money to friends, shop for goods and collect donations. The service will be separate from Calibra's new Facebook portfolio and the Libra network, "built on existing financial infrastructure and partnerships," the company said. Facebook plans to launch Facebook Pay to Messenger in the United States this week.In principle, the service will be available for fundraising, one-to-one payments, event ticket purchases, in-game purchases and some purchases from Facebook and Marketplace businesses. "We plan to bring Facebook to more people and places, including using Instagram and WhatsApp," says Deborah Liu, vice president of Facebook for marketing and commerce. Facebook Pay will be available in the Settings section of Facebook or Messenger, and will support most debit and credit cards, as well as PayPal. Facebook did not disclose exactly when this payment system will be available in all its applications, nor when it will be launched internationally. Advertising Facebook Bay comes just weeks after a large number of online payment companies withdrew from the Libra project on Facebook. PayPal, which supports Facebook Bay, was one of the first companies to emerge from the Libra Association, a nonprofit organization that oversees the creation of Facebook's cryptocurrency.
Source
cnbc Annie Palmer
Labels: Technology
