Facebook Launches Facebook Pay, a New Digital Payment Method.

Facebook Inc (FB.O) has announced the launching of Facebook Pay, a payment method that can also be used across other networking mediums like Whatsapp and Instagram.

 The most popular social network said that Facebook Pay will help send money and make payment securely since there are security options like PIN or biometric on their smartphones.

Many countries have already banned Facebook digital currency, Libra and Facebook Pay was launched right after it. This service is however different from the Calibra wallet and Libra network. According to the company, this service is “built on existing financial infrastructure and partnerships,”

Facebook is preparing to release Facebook Pay on Messenger in the USA this week. The availability list includes fundraisers, in-game purchases,  purchasing tickets, person-to-person payments, purchases from businesses and pages on Facebook’s Marketplace.

Facebook’s vice president Deborah Liu said:

“Over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp,”

However, the date for the launch has not been announced yet. The backlash Facebook has received on Libra digital currency has not stopped them from devising a way to use the idea of digital payments.

ALSO READ: EU Central Bank To Launch Their Own Digital Currency

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