Facebook Pay

Basic introduction

Facebook Pay will be available for Facebook, Messenger, Instagram, WhatsApp these four Facebook's applications, including the payment of specific functions, donations, transfers. Starting this week, Facebook Pay Facebook Messenger will be the first in the United States District line, the future will be extended to different countries and regions as well as Instagram and WhatsApp.

Facebook Pay support binding the majority of credit cards, debit cards, and PayPal, the payment process is handled by cooperation PayPal, Stripe, and other companies, the future may add the "fingerprint payment" and "facial recognition payment", etc. payment method. Facebook said, Facebook Pay and will launch digital wallet service Calibra different service, which is used to encrypt digital currency settlement of Libra.

affected by this news, Facebook shares rose 2.56 percent at the close on November 12, at $ 194.47 / share.

Facebook Pay is not an application, nor is embedded in an application program, it is a universal Facebook different software payment.

Facebook Pay will collect the user's transaction history, payment details and contact information, credit card data will be encrypted, the user can choose whether to share the data. Data collected from Facebook Pay transactions may be used in advertising to Facebook's platform launch. In the announcement, Facebook for example, said, "If you use the Facebook Marketplace Facebook Pay to buy a pair of baseball gloves, baseball bats that you may see ads platform." But unless you take the initiative to share data, or Facebook Pay will not the data public.

Application

The initial payment application can be fund raising, peer to peer payments, event tickets paid, in-game purchase, and to pay for goods or services on the Facebook Marketplace page.