November 13, 2019

Facebook Pay Before Libra

Facebook Pay will begin rolling out on Facebook and Messenger this week in the US for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and businesses on Facebook Marketplace.

Facebook introduced introduced Facebook Pay, which offers people a convenient, secure and consistent payment experience via Facebook, Messenger, Instagram and WhatsApp. People are already using payments through their apps to shop, donate for purposes, and send money to each other. Facebook Pay makes these transactions easier while ensuring that payment information is secure and protected.

In an obvious attempt to avoid further regulatory controls, the company clearly states that Facebook Pay "builds on the existing financial infrastructure and partnerships". The company is also aware that the payment service will be kept separate from the new Calibra wallet of Facebook and the Libra network.

At the beginning of October, the Libra Association lost seven partners out of the original 28. Namely PayPal, Visa, Mastercard, Stripe, eBay, Mercado Pago and Booking decided to leave the consortium.

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