Facebook Pay will let you send money on Messenger, WhatsApp and Instagram

Facebook Pay will let you send money on Messenger, WhatsApp and Instagram

Facebook Pay will let you send money on Messenger, WhatsApp and Instagram

The announcement of the payment service comes in the midst of the social media giant's ongoing efforts to launch Libra, a global cryptocurrency network that is also slated to be integrated with Facebook Messenger and WhatsApp. As time goes on the company plans to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp.

Last night, Facebook launched its new payment service called Facebook Pay in the US. Users can set up the interface across the social suite of Facebook, or they can choose to use payments from only one app. Using Facebook, you can pay for tickets to events, purchases, participate in fundraising, check payment history. In addition to the other "Pay" variants mentioned earlier, there's also Venmo, Zelle, PayPal, debit and credit cards, Payoneer, and Stripe, to name a few. Facebook also emphasised that this service is separate from its Calibra wallet, which will run on the Libra network. "Allow us to re-introduce ourselves - today, we're updating our logo to be clearer this is the company account", Facebook wrote.

"We created Facebook Fork out to securely retailer and encrypt your card and bank account quantities, complete anti-fraud checking on our systems to detect unauthorized activity and offer notifications for account exercise", the company mentioned. With this in mind, it is possible to configure Facebook Pay for one or all applications in the group.

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Granted, the ability to send money to friends or family on Facebook is a feature that has been available on the platform for quite some time.

The peer-to-peer, UPI-based WhatsApp Pay service will reach over 400 million users - especially the small and medium businesses (SMBs) - to boost digital inclusion in the country. For peace of mind, users can add an extra layer of security by enabling PIN-protection or finger/facial recognition for payment authorization. Attention, the firm reserves the right to use certain information collected via Facebook Pay to refine its own advertising targeting.

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