Facebook Is Now Planning And Making New Strategies For Mobile Payments

Facebook Is Now Planning Mobile Payments: The world’s biggest social media platform (Facebook) is now planning to introduce new strategies for Mobile payments. They are adding some mobile payment options on this platform. And they are going to add some installments venture which also include Facebook Pay in it. This will be a great achievement for Facebook.

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Facebook has already had the most used platforms which include Messenger, Instagram, and WhatsApp. It will help 2.50 billion Facebook users to make their payments in an easy way. Facebook also stated that it will be a user-friendly interface.

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Facebook Pay’s rivals and their development

This will give a tough competition to the other online payment apps such as:

  • Apple Pay
  • Pay Pal
  • Paytm
  • AmazonPay
  • Phone Pe
  • Google Pay

and many more.

Facebook Pay allows users to make payments and send money to their families. Recently Facebook has taken over the Whatsapp.

Development

This work is done under the guidance of Facebook executive David Marcus. He was the one who develops the Facebook Messenger. Now he is working on the platform s’ block-chain and its digital payment currency named “Libra”.

What does Mark Zukerberg say?

In a press conference Mark Zukerberg state that when installments stated operating in Messenger and WhatsApp. After that Facebook is ready to compete with other payment apps and platforms. He feels that this will help in developing Facebook.

Facebook Pay will have Libra (digital payment currency) and Novit unit as its financial supporters. Facebook has needed to move plans for Libra following quite a while of administrative weight and money related accomplices abandoning the exertion.

However, Facebook has not made any official announcement for their upcoming app named as Facebook Pay. But they had given information that this app will be firstly available in the US and after that worldwide.

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