Daily Management Review

Facebook upgrades Facebook Pay


Facebook has launched the Facebook Pay electronic payment system, which will operate on the social network of the same name, its messenger, Instagram and WhatsApp, the company’s blog reads.

The service started in the USA for Facebook and messenger to pay for purchases in gaming applications and in individual companies on the Facebook Marketplace, purchase tickets for events, transfers between users and collect donations. Over time, the company plans to expand geography of the service and allow its use on Instagram and WhatsApp.

Users can start Facebook Pay through the settings in the application or on the social network site. At the same time, the company recommends choosing the preferred payment method so that you do not subsequently re-enter all the details every time. The system supports most credit and debit cards and PayPal.

Facebook recalled that users have been making payments through its applications since 2007, and since the launch of the donation collection system in 2015, more than $ 2 billion has been raised through this platform. The Facebook Pay system will simplify payments, make them more accessible and guarantee their safety and protection of information associated with bank cards and user accounts, the company promised.

source: newsroom.fb.com