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Facebook joins the bandwagon of mobile payments with “Facebook Pay”

Facebook joins the bandwagon of mobile payments with “Facebook Pay”

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Facebook Pay

Facebook has been up to a lot of things lately. In the latest development, the social media giant is extending its services to include an in-app payment solution called Facebook Pay.

According to Facebook;

“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. And over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp.”

Facebook Pay

While this new development may have caught many unaware, it is worthy to note that the company has been making big moves towards participating in the financial space, however, the focus was rather on owning a cryptocurrency coin known as ‘Facebook Libra.’

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Nonetheless, from the looks of it all, it appears that Facebook Pay will be mostly online-based compared to other payment systems like Apple Pay which can be used both for online and offline purchases. We’re not sure if there are plans to eventually extend Facebook Pay to brick and mortar stores, but as Facebook notes, they do plan to expand it to other Facebook-owned apps and services.

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