The Facebook pay payment system is ready to expand to online retailers in August this year.
According to an announcement made by Facebook on July 14, consumers will eventually see another option written next to standard payment methods, now that Facebook Pay will expand beyond the company’s own platforms.
Shortly after the credit card companies withdrew from its Libra cryptocurrency project, Facebook unveiled its payment system which will be used on a major site, as well as on WhatsApp and Instagram.
Now, like Google Cards, PayPal integration, Amazon Pay, and more, Facebook Pay opens itself up for use in transactions with participating merchants. Shopify sellers are starting the line to add the app to their sites, with others following it after it launches in August.
After all, this is not just an easy way for merchants to be paid with customer cards already stored in their Facebook profiles, and it is a way to get more data on Facebook.
The announcement points to this Facebook Pay privacy page, which explicitly states:
- Like previous payment options in our apps, when you pay via Facebook Pays, we will collect information about purchases such as payment method, transaction date, payment, shipping and contact details. We’ve built Facebook Pays to store and secure your card and bank account numbers.
- Like many of our products, actions you take through Facebook Pay may be used for purposes such as delivering relevant content and ads, providing customer support and promoting security and integrity.
The card numbers and bank account numbers you provide will not be used to personalize your experience or advertise the ads you see.
