Facebook has announced Facebook Pay, its solution to inter-app money wallet and remittance.
The new feature integrates payments and remittance solutions into the app, making it easier to pay for items you want and send money to friends.
Key features of the new service include the following:
- Decide if it will be set up on a per-app instance or one shared Pay setup across all Facebook-owned apps
- Send money directly to your friends
- Donate for charity causes
- See your payment history and contact customer service for help
- Buy event tickets from handpicked pages
- Settle in-app purchases
This is different from the earlier-released Calibra and Libra cryptocurrency network by the social media company. Facebook Pay has partnered with companies such as Stripe and Paypal to make it accessible to most credit and debit cards.
It will be available first on Facebook and Messenger apps in the USA this month. The next series of global rollouts and support on other apps will be announced at a later date. “Over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp,” explains Deborah Liu, Facebook’s vice president of marketplace and commerce.