Abu Zar Mishwani
In August of this year, Facebook’s payment system will be extended to online shops.
According to a Facebook statement published on July 14, now that Facebook Pay will spread beyond the company’s own platforms, customers will see another choice offered among the standard payment options.
Facebook introduced its payments system for usage across the leading site and WhatsApp and Instagram, not long after credit card companies backed out of its Libra cryptocurrency initiative.
Facebook Pay is now available for use in transactions with partner shops, similar to Google’s saved cards, PayPal integrations, Amazon Pay, and others. Shopify sellers will be the first to use the technology on their sites once it opens in August.
Of course, this isn’t simply a method for shops to get paid using cards that consumers have already saved in their Facebook accounts; it’s also a way for Facebook to collect even more data.
The notice refers to this Facebook Pay privacy page, which states:
- When you make purchases using Facebook Pay, we’ll collect information about the purchase, such as the payment method, transaction date, invoicing, shipping, and contact information, just like we did with prior payment choices on our applications. Facebook Pay was created to securely store and encrypt your credit card and bank account details.
- As with our other products, the activities you take with Facebook Pay can be used to give you more relevant content and advertisements, provide customer assistance and promote safety and integrity, among other things.
- The information you supply about your credit card and bank account will not be used to personalize your experience or inform the advertising you see.