rachid2012
Regular Member
- Dec 14, 2017
- 400
- 130
On its way to conquer the world… Announcing Facebook Pay!
A few days ago, we featured the news that FB is building its own email platform. Apparently, that’s not the only thing cooking behind the scenes.
FB just announced the launch of its own payment system, called Facebook Pay. It’s a single payment system that connects all of its apps under a single umbrella: Messenger, Instagram, WhatsApp and of course, Facebook itself.
source (https://about.fb.com/news/2019/11/simplifying-payments-with-facebook-pay/)
Here are some of the key functionalities of FB Pay:
This functionality will later be rolled out to Instagram and WhatsApp too, although there are no specific timeframes for that at the moment.
Once this is rolled out across all apps, people will be able to purchase products directly from FB and IG, or for sending money to family and friends on WhatsApp.
FB Pay will start rolling out this week.
What does it mean for marketers? First of all, smoother payments happening right within the app. Second, it will be a huge amount of users’ data coming to Facebook: CC details, payment history etc.
This will help Facebook level up with Amazon and other marketplaces which already have this kind of data. Not sure if FB will allow us marketers to leverage on this data for audience targeting but it definitely will boost its algo intelligence.
A few days ago, we featured the news that FB is building its own email platform. Apparently, that’s not the only thing cooking behind the scenes.
FB just announced the launch of its own payment system, called Facebook Pay. It’s a single payment system that connects all of its apps under a single umbrella: Messenger, Instagram, WhatsApp and of course, Facebook itself.
source (https://about.fb.com/news/2019/11/simplifying-payments-with-facebook-pay/)
Here are some of the key functionalities of FB Pay:
- Add your preferred payment method and then use it whenever available without having to enter the details again.
- Set up Facebook Pay for a specific set of apps or for all FB apps.
- View payment history, manage payment methods and update your settings all in one place.
- Real-time customer support via live chat.
- Understand which payment services are part of Facebook.
This functionality will later be rolled out to Instagram and WhatsApp too, although there are no specific timeframes for that at the moment.
Once this is rolled out across all apps, people will be able to purchase products directly from FB and IG, or for sending money to family and friends on WhatsApp.
FB Pay will start rolling out this week.
What does it mean for marketers? First of all, smoother payments happening right within the app. Second, it will be a huge amount of users’ data coming to Facebook: CC details, payment history etc.
This will help Facebook level up with Amazon and other marketplaces which already have this kind of data. Not sure if FB will allow us marketers to leverage on this data for audience targeting but it definitely will boost its algo intelligence.