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Facebook launches its own payment system
The company Facebook finally presented the long-awaited for many payment system Facebook Pay. Moreover, it will work not only within the social network, but also in conjunction with other services: Instagram, Messenger, WhatsApp.
Using WhatsApp, users will be able to perform all kinds of operations with money:
● transfer funds to other users;
● buy goods, tickets, other;
● take part in fundraising, etc.
For users of the CIS countries, payment via Facebook will seem familiar - a similar social service had previously launched the popular social network VKontakte. And now it is actively working, giving users many convenient tools.
November 13, 2019 WhatsApp is already launched in the United States of America and only in the official Facebook and Messenger apps. Soon, the service will go beyond the United States and cover the remaining services of the company.
According to Deborah Liu, Vice President of Market and Commerce, “Facebook Pay is designed to make trading processes more convenient, understandable and safer for everyone who uses the company's applications. And at the same time make the system itself even more valuable for users. ”
Please note that the new service is not associated with Libra cryptocurrency and Calibra wallets, which also belong to the company.
Should I start using Facebook Pay right after launching in your country? At first, we would not recommend conducting transactions with large amounts. The service is new, failures and errors in its operation are quite possible. There are no comprehensive reports on its performance either. But if you wish, you can top up your account with Visa and MasterCard or with PayPal.
Of course, recently the security and privacy of the social network Facebook has raised some questions. However, this is still better than third-party little-known services. Therefore, it is likely that in the future, Facebook Pay will become a very popular payment system. At least in the West. Especially, according to experts, on Instagram, where a huge amount of goods are bought and sold today, and there is no single payment system. Thus, conducting any transactions will become a level safer, and Facebook will quickly block fraudsters. We hope that very soon Facebook payments will appear in other countries and they can be used.