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Facebook Plans To Extend Its Payment System To Online Retailers In United States

Facebook's payment system Facebook Pay will extend to online retailers in the United States in August this year.

WASHINGTON — Social media platform Facebook’s payment system Facebook Pay is set to extend to online retailers in August this year in the United States, Facebook said in a blog.

Online shoppers will eventually see another option listed next to the usual payment methods, now that Facebook Pay will expand beyond the company’s own platforms.

“Starting this August, businesses in the US who use participating platforms will have the ability to enable Facebook Pay as a payment option directly on their websites, giving their customers the ability to speed through checkout without having to re-enter their payment information,” the company said in the blog.

“We’re starting the rollout with Shopify merchants and expect to expand availability with more platforms and payment service providers over time.”

Not long after credit card companies dropped out of its Libra cryptocurrency project, Facebook launched its payments system for use across the main site, as well as its units WhatsApp and Instagram.

Now, just like Google’s stored cards, PayPal integrations, Amazon Pay, and others, Facebook Pay is opening itself up for use in transactions with participating retailers.

Shopify merchants are first in line to add the system on their sites, with others to follow after it launches in August.

“As with previous payment options on our apps, when you make payments with Facebook Pay, we’ll collect information about the purchase such as the payment method, transaction date, billing, shipping, and contact details,” Facebook said on data collection.

“We designed Facebook Pay to securely store and encrypt your card and bank account numbers.”

“As with our other products, the actions you take with Facebook Pay can be used for purposes such as to deliver you more relevant content and ads, to provide customer support, and to promote safety and integrity. The card and bank account numbers you provide will not be used to personalize your experience or inform the ads you see.”

Facebook recently updated its Business Suite on June 31 and said that the new features include scheduling stories and editing scheduled posts.

“You can create, publish and schedule stories to Facebook and Instagram too, simply by selecting ‘Create story’ on Home or by navigating to the Posts and stories tab on the Business Suite app,” Facebook had said.

The company also said that new features such as Boost scheduled stories, Managing Albums and calendar, and Holidays in Calendars are under development and will soon be released for its users.

(With Inputs from ANI)

(Edited by Abinaya Vijayaraghavan and Praveen Pramod Tewari)

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