Facebook has announced the launch of Facebook Pay, a fiat currency payment system that will be available on Facebook, Messenger, Instagram and WhatsApp.
In order to avoid criticism from regulators, the company explained that Facebook Pay will not be associated with the Calibra wallet and Libra stablecoin. The system was created on the basis of the existing financial infrastructure with the cooperation of partners.
Deborah Liu, the head of Facebook’s commercial department, said the system will streamline transactions made by users through Facebook apps and will protect and secure payment information.
Facebook Pay will allow you to make in-game purchases and individual payments, purchase tickets for various events, as well as buy goods from companies operating on the Facebook Marketplace.
The payment service will be launched this week in Messenger and Facebook for users from the United States, but the company hopes that in the future, Facebook Pay will be used all over the world to make any purchases on the Internet.
Recall that, as Facebook founder and CEO Mark Zuckerberg (Mark Zuckerberg) said in October, the company may refuse to launch the Libra project if it does not receive regulatory approval.