The Facebook has officially announced on Tuesday (12) and the Facebook Payusers in the U.S. can sign up for a credit card, debit card, or PayPal account to make payments within your social network, and your Messenger. In the future, the service will be expanded to more countries, and to applications such as WhatsApp and Instagram. This is an initiative that is separate from the criptomoeda the Pound, which will remain in the portfolio Sort.
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Basically, the Facebook Pay-it saves your data from the card, so that you don’t have to enter them each time you make a payment through the social network. If you prefer, you can just connect it to your PayPal account, you will be responsible for the transaction.
You will be able to see your transaction history, manage your payment methods, and update the settings. If you have a problem, you can count on the support via chat.
From the very beginning, with the Facebook Pay-it will be available in the us only, inside Facebook, and msn Messenger. You will be able to send money to your contacts, make a donation, purchase tickets to events, and to carry out the transaction within the game, and buy the products of the selected companies in the Marketplace.
In the future, the digital wallet will expand to other applications. We have seen that it is a beta version of WhatsApp that brings back the references to the Facebook Pay. When it is available, on WhatsApp, and Instagram, you will be able to set it directly in each application, and you will not need to have an account in the Facebook.
Facebook will use that data to tailor ads
The Facebook Pay-it stores all the numbers of your credit card and bank account details in an encrypted form. Is it possible to add an additional layer of security by setting a PIN or using biometrics (digital facial recognition). The company is monitoring the anti-fraud office in order to detect any suspicious activities.
According to Facebook, the user will be able to see the transactions made through the use of the Facebook Pay, your purchases will not be shared with friends and will show up in your news feed.
But you can bet that your financial transactions will be used to personalise the ad. “The actions that you can perform with the Facebook Pay-it can be used for such purposes as to provide content and ads more relevant… so for example, if you purchase a glove with the baseball in the Facebook Marketplace, you will see an advertisement for a baseball bat,” says the company.
The Facebook makes it clear that the Facebook Pay-it has nothing to do with the criptomoeda the Pound, “he uses is a financial infrastructure, and the partnerships that already exist, and are separate from the portfolio Calibration”.
More and more companies are turning to the financial services they need to diversify their businesses-for example, we recently announced that the Uber-Wallet, digital wallet, which can be used in conjunction with a debit card with cashback. There’s also a Bounty, Pay, and an API for third-parties to integrate with their payment to the app You can.