Facebook on Tuesday announced Facebook Pay, an online payment system that will allow users across its services to send payments to one another. Facebook Pay would be accessible to users of Facebook, Instagram, Facebook Messenger, and WhatsApp Messenger, bringing financial service to billions of users.
Facebook Pay will power various transactions in the supported platforms, including in-app purchases, transfer of payments from person to person, and making purchases on select Facebook pages or businesses, as well as on Facebook Marketplace. All major credit cards are supported by Facebook Pay, as well as PayPal and Stripe.
Facebook Pay is a seamless, secure way to pay on the apps you already use
“Facebook Pay is part of our ongoing work to make commerce more convenient, accessible and secure for people on our apps. And in doing so, we believe we can help businesses grow and empower people everywhere to buy and sell things online,” Deborah Liu, the vice president of Marketplace and Commerce at Facebook, wrote in Tuesday’s blog post announcing Facebook Pay. “We’ll continue to develop Facebook Pay and look for ways to make it even more valuable for people on our apps.”