Facebook Pay will be offered on Facebook and Messenger this week in the US. It will soon expand to other Facebook-owned platforms and counties. The CEO Mark Zuckerberg had announced the company’s plans to unify messaging infrastructure earlier this year. The new service will collect user information.
The social networking platform has been in news for growing discontent over its approach to privacy and user data. Facebook Pay will reportedly collect user information such as payment method, data, billing, and contact details whenever the transaction is made. IT will use the data to show targeted ads to the users.
Facebook is consolidating its payment processing for the platform. The company claims that collecting user data such as payment and billing information will help in ensuring that the users don’t have to make manual entries every time they make a transaction on the other platform.
The unified payment service will process payments across all Facebook properties. It will eventually be introduced on Instagram and WhatsApp. The company expects that users will prefer the payment service for fundraiser, in-game purchases, event tickets, person-to-person payments and payments on Facebook Marketplace.
Even previously Facebook had laid out plans to integrate its platforms. The company wanted to integrate messaging service of Messenger, WhatsApp, and Instagram. Facebook has already been processing payments for advertisers since 2007. The consolidation is also part of the effort to increase the awareness about all properties that Facebook owns and introduce them to the users.
The social networking firm and other platforms have been facing the antitrust scrutiny. Over 47 state attorneys general are investigating Facebook of anticompetitive practices. The Federal Trade Commission has also opened an antitrust investigation against Facebook.