Before you continue. This tool is being implemented in beta mode in different countries around the world, which means that for now (2023) it can be activated only for some accounts. It is expected that it will be available to the public very soon. The information contained in this text is based on documentation from Facebook and national and international media on what is known up to the time of the application.
This addition is preceded by the ongoing libra. Cryptocurrency, along with facebook’s calibra wallet , which is not yet active. In fact, recently, several payment companies abandoned the project. Including paypal, visa, mastercard, stripe, booking holding. Ebay and mercado pago (1), due to regulatory and healthy competition issues.
In this sense, facebook, which had already been processing payments since 2007 (2) although not in a unified way. Changed its strategy: it went from being a cryptocurrency system with its own. Digital currency to creating a payment network that includes already regulated local systems ( 1).
with the announcement of Facebook Pay in the United States (2).
Finally, this has the purpose of confronting cash payments so that everything is carried out digitally, as is the case with other competitors such as Apple, Samsung, Amazon, Android, Alipay, Paypal, among others (3).
Since 2013, Google has allowed Bahrain Phone Number List sending money using email attachments, with the integration of the Google Wallet tool (4).
In this sense, digital transactions began as a way of operating within ecommerce , but currently represent another aspect of the integration of all social and digital interaction possibilities: conversation, calls, video calls, sales and purchases, without leaving the app.
If you want to know more about ecommerce, don’t miss our article:
“E commerce: what it is, how it works and where to start . ”
Facebook Pay or Meta Pay: operating guide, specifications and use
Facebook has launched its Bahrain Phone Number List payment management tool (Facebook Pay)
