Seeing the increasing scope of digital payments, Facebook has also launched its e-wallet ‘Facebook Pay’. Initially, this payment service has been made available only on Facebook and Messenger. Later it will also be made available on WhatsApp and Instagram. Facebook Pay has been introduced for fundraising, in-game purchases, event tickets, people-to-people payments on Messenger (Person to Person payment) and shopping on pages and merchandise on Facebook Market Place. Currently, the facility has been launched in the US.
Facebook said in its blog that users will be given security options to make payments, which will provide the facility like PIN and biometric. With this payment system, shopping, event ticket booking, donation or money can be transferred to anyone. According to the information, Facebook will provide a single system for any transaction, which means that it will keep the data of users such as credit card numbers, details like safe.