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| Facebook is expanding the use of Facebook Pay |
Nearly two years later, Facebook has taken a huge leap to expand its payments platform.
The company has announced plans to expand Facebook Pay beyond its ecosystem to facilitate online transactions.
Starting in August, US customers will be able to use payment methods to shop in stores connected to the Shopify platform.
When you visit a co-seller, you'll see a Facebook Pay button that will allow you to complete the purchase using your registered card or PayPal details.
With this in mind, Facebook is competing with competing mobile and digital wallets, including Apple Pay and Google Pay.
Everyone has a built-in audience based on their preferred device, operating system, or social network (in the case of Facebook).
Previously, Facebook Pay was limited to the company's own platforms, including WhatsApp, Messenger, and Instagram.
Shortly after the credit card company withdrew from the Libra cryptocurrency project, Facebook launched its own payment system for the main site, as well as WhatsApp and Instagram.
Facebook Pay is a convenient way to shop, share bills with friends, send money abroad and donate to charity through these apps.
Facebook Pay's expanding influence on the Internet has increased its importance and is part of the company's broader e-commerce strategy.
Facebook is expanding the use of Facebook Pay
In June of this year, Facebook added QR codes to its payment system so that users could send money to people outside of their friend group.
At the same time, it has embed shopping features into the broader social app ecosystem to take advantage of the shift to e-commerce.
In May this year, it launched a store that turns business pages on its main platform and Instagram into online storefronts.
Like Google and Snapchat before, the company is also turning to visual search to help people find more products to shop on Instagram.
It is worth noting that WhatsApp has also received a purchase button that allows users to browse the list of the retailer's products.
As with previous payment options in our app, when you pay with Facebook Pay, we collect information about your purchase, such as your payment method, transaction history, billing, shipping, and contact details. We developed Facebook Pay to securely store and encrypt your card number and bank account number.
Actions you take with Facebook Pay may be used for purposes such as providing more relevant content and ads. As well as providing customer support and promoting security and integrity. The card and bank account number you provide will not be used to personalize your experience or to notify you about advertisements shown.