- Friday 06 Dec 2019
Facebook messaging apps getting unified payment system
PTI, Nov 13, 2019, 12:12 PM IST
San Francisco: Facebook on Tuesday said it is consolidating the system that handles payments at the social network and in its family of messaging apps. The move comes in a climate of political rhetoric that includes calling for the California-based internet company to be broken up.
Transactions such as payments or donations at Messenger, Instagram, WhatsApp or the main social network will eventually be handled by a unified Facebook Pay system, according to marketplace and commerce vice president Deborah Liu.
“People already use payments across our apps to shop, donate to causes and send money to each other,” Liu said in an online post.
“Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected.” Facebook Pay will provide a single system behind the scenes to handle financial transactions and safeguard data such as credit card numbers or delivery addresses for people who may use several of the social network’s applications.
The unified service will begin rolling out in the US this week for fundraisers, in-game purchases, event tickets, and person-to-person payments on Messenger and purchases on Facebook, according to Liu.
“Over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp,” Liu said.
Payments in Facebook apps are processed in partnerships with PayPal, Stripe and other online financial transactions platforms around the world, and are separate from a Calibra digital wallet being built to handle a proposed Libra cryptocurrency, according to Liu.
“Facebook Pay is part of our ongoing work to make commerce more convenient, accessible and secure for people on our apps,” Liu said.
“We believe we can help businesses grow and empower people everywhere to buy and sell things online.” Facebook’s planned digital currency Libra is facing heated opposition from policymakers around the world.
Facebook had originally hoped to roll out Libra next year, but has met fierce resistance from regulators and governments who see it as a threat to their monetary sovereignty.
Hong Kong: Optimism over the China-US trade talks kept Asian markets buoyant on Friday, with investors betting the two will eventually sign a partial ....
London: Kerala-born NRI entrepreneur M A Yusuff Ali's LuLu Group has completed investments of 300-million pounds in the UK with the launch of its new ....
New Delhi: Vodafone Idea will have to be closed down if the government doesn't provide relief that the company has sought, its chairman Kumar Mangalam....
New York: Saudi Aramco on Thursday priced its long-awaited IPO at the high end of the target range, raising $25.6 billion and giving the energy giant ....
New Delhi: Auto portal CarDekho on Thursday said it has raised USD 70 million (about Rs 500 crore) in Series D funding, led by China's Ping An's Globa....
Hyderabad: The Telangana police on Friday said its personnel resorted to "retaliatory" firing after two of the accused in the rape and murder of a wom....
New Delhi: The 'encounter' killing of the four men accused in the rape and murder of a woman veterinarian in Hyderabad touched a deep chord on Friday ....
Kolkata: BCCI President Sourav Ganguly on Friday rubbished, as pure speculation, allegations that he would be vindictive towards chief coach Ravi Shas....
Mangaluru: Indian Hospital and Heart Institute in the city has performed the first Trans-catheter Aortic Valve Replacement/Implementation. (TAVI/TAVR)....
Bengaluru: Chief Minister B S Yediyurappa on Friday backed the Telangana police action killing four accused in the rape and murder of a woman veterina....