Facebook Is Bringing A New Payment System

Facebook has launched a new payment system ‘Facebook Pay’ to pay on its companies- Facebook, WhatsApp, Messenger and Instagram. It will be started in the US this week for fundraising, in-game shopping, event tickets, people-to-people payments on Messenger (Person to Person payment) and shopping on pages and merchandise on Facebook Market Place.

Facebook. Technology
Facebook

“Over time we plan to introduce ‘Facebook Pay’ to more people and places and also on Instagram and WhatsApp,” said Deborah Liu, vice president of the marketplace and commerce wing at Facebook.

The company said that Facebook is built on existing financial structures and partnerships and is different from the Calibrate Wallet running on the company’s digital currency Libra network. According to the company, you can start using ‘Facebook Pay’ on Facebook or Messenger after just a few steps.

For this, you first go to the setting on the Facebook app or website and then go to ‘Facebook Pay’ and add the payment method. After this, you can use Facebook Pay the next time you make a payment. You will be able to set it directly on each app as soon as it starts on Facebook on WhatsApp and Instagram.

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