Join gaming leaders, alongside GamesBeat and Facebook Gaming, for their 2nd Annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 this upcoming January 25-27, 2022. Learn more about the event.
(Reuters) — Facebook said on Tuesday it was launching Facebook Pay, a unified payment service through which users across its platforms — including WhatsApp and Instagram — can make payments without exiting the app.
The social network said the service would allow users to send money or make a payment with security options such as PIN or biometrics on their smartphones.
CEO Mark Zuckerberg said earlier this year that the company is planning to unify the messaging infrastructure across its platforms.
He said the company would encrypt conversations on more of its messaging services and make them compatible, as direct messaging was likely to dwarf discussion on the traditional, open platform of Facebook’s news feed in a few years.
Facebook said the new service will collect user information such as payment method, date, billing, and contact details when a transaction is made and that it would use the data to show targeted advertisements to users.
Facebook’s advertising practices have been in the spotlight for the past few years, amid growing discontent over its approach to privacy and user data.
Facebook Pay will be available on Facebook and Messenger this week in the United States, the company said in a blog post.
(Reporting by Ayanti Bera in Bengaluru, editing by Anil D’Silva and Arun Koyyur.)
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more