Facebook’s new Facebook Pay to facilitate transactions across its apps

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 13, 2019, 10:15 AM UTC

It will be rolled out on the platform and Messenger this week in the US.

Facebook has announced the launch of its new payments system, Facebook Pay, to facilitate payments across its social networks and apps. The payment feature will initially support person-to-person payments, in-game purchases, event ticket purchases and fundraiser donations.

It will also facilitate purchases from pages and businesses within Facebook’s Marketplace. Further, the payment service will support most debit and credit cards, and PayPal.

Deborah Liu, vice president of marketplace and commerce at Facebook says that they will expand the use of the payment system to more people and places, including Instagram and WhatsApp. Liu adds that Facebook Pay is a part of their ongoing plan to improve the convenience, accessibility and security of transactions on their apps.

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