Facebook Pay will provide a single system to handle financial transactions and safeguard data for people who may use several of the social network's applications. — bombuscreative/IStock.com pic via AFP
Transactions such as payments or donations at Messenger, Instagram, WhatsApp or the main social network will eventually be handled by a unified Facebook Pay system, according to marketplace and commerce vice president Deborah Liu. Facebook Pay will provide a single system behind the scenes to handle financial transactions and safeguard data such as credit card numbers or delivery addresses for people who may use several of the social network's applications.
Payments in Facebook apps are processed in partnerships with PayPal, Stripe and other online financial transactions platforms around the world, and are separate from a Calibra digital wallet being built to handle a proposed Libra cryptocurrency, according to Liu.