Facebook launches a new electronic payment service, allowing you to make purchases through Messenger, WhatsApp and Instagram

This morning 13/1, Facebook has officially launched a completely new online payment service called Facebook Pay and initially piloted the US market. Basically, this service will allow you to make quick transactions for your partners (both individuals and businesses) through Facebook ecosystem applications such as Messenger, WhatsApp and Instagram.

You can link your debit or credit card to Facebook Pay and select the applications you will use as a payment environment. Initially, the service will be available on Facebook and Messenger to simplify the payment process for fundraisers, purchase items in games, buy event tickets, personal payments and select pages. on the Facebook Marketplace.

One important thing to note is that Facebook has been testing WhatsApp Pay service in India for over 18 months, and in July the company confirmed it will launch a full version of the service at the end. this year. However, earlier this month, the Central Reserve Bank of India (RBI) spoke out against the official launch of WhatsApp Pay in India on the grounds that Facebook has not complied with data localization standards. There are still problems with the data processing standards of the company that owns the largest social networking site in the world.

Back to the launch of Facebook Pay in the US. This service will face fierce competition from big names in the field of electronic payment such as Square, Venmo, Google Pay and Apple Pay. Facebook Pay really doesn't hold too many advantages, except for a huge user base from the company's service ecosystem. However, probably not many people will be able to make financial payments freely on Facebook's platforms, after the company is the name in the series of the worst personal data scandals in the calendar. history of technology development in recent years.