Facebook Introduces FacePay For Instant Money Transactions
Just last month Facebook introduced a mobile payment gateway which allows money transactions through its Messenger app. Now it is making another very significant change in money transfer services by adding a new mobile-first, zero-fee payments system to its existing service.
With the new feature, users will be able to connect their debit card to their Facebook account, and thus they will be ready for instant transfer of money. This will make money transactions as simple and convenient as liking a post on Facebook is. Those who have been using this feature for purchasing virtual goods within gaming apps know the its effectiveness very well.
The mobile users will definitely like it when it reaches their devices. Yes, you can use this payment component on your mobile and that, too, without any fee.
Facebook has fully tried to make this procedure as simple and secure for you as possible. As the users are supposed to connect their debit cards to Facebook accounts, protection of sensitive details about the cards is necessary. Facebook will ensure it by protecting passwords and by maintaining a transaction history.
By looking at the rate at which Facebook has boosted its novice mobile payment service, it is fair to anticipate that social media giant has concrete plans to make a mark in the payment technology. It is following a pretty decent approach to accomplish its desired goals. This is obvious from its recent relationships with wholesale traders. Facebook which has notoriously not been very cooperative with merchants seems a bit lenient now.
Facebook’s feature called “Auto-Fill” is a good example of its cooperative attitude. In this feature, an “Auto-Fill With Facebook” button allows users to share their payment information, which are originally stored on Facebook, with other partnered e-commerce apps and mobile sites.
Abubaker Zahoor writes on diverse topics with special interest in innovations, tech-ethics, and inter-and intra- organizational business relationships.