April 23, 2024

Facebook announced the launch of the Facebook Pay payment service

While the launch of Libra faces new obstacles, Facebook announced the launch of Facebook Pay, a payment system infiat currency, which will be available on Facebook, Messenger, Instagram and WhatsApp.

To avoid criticism from regulators,the company explained that Facebook Pay will not be associated with the Calibra wallet and Libra stablecoin. The system was created on the basis of the existing financial infrastructure with the cooperation of partners.

Facebook Sales Manager DeborahLiu (Deborah Liu) said that the system will simplify transactions made by users through Facebook applications, as well as protect and secure payment information.

Facebook Pay will allow you to make in-gamepurchases and individual payments, purchase tickets for various events, as well as buy goods in companies operating on the Facebook Marketplace.

Payment service will be launched this week.Messenger and Facebook for users from the United States, but the company hopes that in the future, Facebook Pay will be used worldwide to make any purchases on the Internet.

According to Facebook founder and CEO Mark Zuckerberg in October, the company may refuse to launch the Libra project if it does not receive regulatory approval.