Facebook has announced the launch of Facebook Pay, a payment system meant to operate through Facebook, Instagram, Messenger, and WhatsApp.
“People already use payments across our apps to shop, donate to causes and send money to each other,” the company announced. “Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected.”
Users of Facebook Pay, which the company stated is not related to its proposed cryptocurrency Libra, will be able to enter a preferred payment method and then use the option to eventually pay throughout all of the related apps.
Users will get to choose which apps they want to use Facebook Pay on, Facebook stated, or they can opt in for all (where available). Users will also be able to view payment history, update settings, or manage payment methods all in one place.
The feature will have real-time support in the US with a live chat, with plans for more countries to be added in the future.
Facebook Pay is available in settings on the app or website. It will start rolling out on Facebook and Messenger, and then later be available on WhatsApp and Instagram, where it can be set up through those apps.
“Facebook Pay supports most major credit and debit cards as well as PayPal,” Facebook stated. “Payments are processed in partnership with companies like PayPal, Stripe and others around the world. Facebook Pay is built on existing financial infrastructure and partnerships, and is separate from the Calibra wallet which will run on the Libra network.”
Facebook announced it offers extra security and protection, and it has processed over US$2 billion in donations since it launched a 2015 fundraising tool.
“With Facebook Pay, we’re continuing to invest in security,” Facebook stated. “We designed Facebook Pay to securely store and encrypt your card and bank account numbers, perform anti-fraud monitoring on our systems to detect unauthorized activity and provide notifications for account activity. You can also add a PIN or use your device biometrics, such as touch or face ID recognition, for an extra layer of security when sending money or making a payment. Facebook does not receive or store your device’s biometric information.”
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
House Passes ‘Take It Down Act,’ the First Major AI-Related Federal Regulation
Apr 29, 2025 by
CPI
Michigan Sues Express Scripts, Prime Therapeutics for Alleged Price-Fixing Scheme
Apr 29, 2025 by
CPI
Tech Rivals Testify as FTC Antitrust Trial Against Meta Enters Defining Phase
Apr 29, 2025 by
CPI
Spanish Judge Investigates Nationwide Blackout as Possible Cyber Threat
Apr 29, 2025 by
CPI
Trump Administration Pushes EU to Delay AI Regulations
Apr 29, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Mergers in Digital Markets
Apr 21, 2025 by
CPI
Catching a Killer? Six “Genetic Markers” to Assess Nascent Competitor Acquisitions
Apr 21, 2025 by
John Taladay & Christine Ryu-Naya
Digital Decoded: Is There More Scope for Digital Mergers In 2025?
Apr 21, 2025 by
Colin Raftery, Michele Davis, Sarah Jensen & Martin Dickson
AI In the Mix – An Ever-Evolving Approach to Jurisdiction Over Digital Mergers in Europe
Apr 21, 2025 by
Ingrid Vandenborre & Ketevan Zukakishvili
Antitrust Enforcement Errors Due to a Failure to Understand Organizational Capabilities and Dynamic Competition
Apr 21, 2025 by
Magdalena Kuyterink & David J. Teece