Facebook is expanding its financial services arm, unveiling its in-app payments platform Facebook Pay, for its social media site, Instagram, Whatsapp and Messenger. The service will first be introduced on Facebook and Messenger and then eventually introduced on Instagram and Whatsapp. The company said it wants to provide people with
Facebook’s biggest partners for its upcoming Libra payments network have backed out of the project less than four months after it was announced. Mastercard, Visa, and eBay said Friday they are dropping out of the partner group working on Libra, joining Paypal which backed out a week earlier. Libra is
A global group of regulators led by Australia and the UK are asking Facebook to explain how it will protect personal information in its new cryptocurrency venture. The regulators have “concerns” about the initiative which would see Facebook potentially adding the financial data of millions of users to its existing
Facebook will launch a cryptocurrency in 2020, signalling a move beyond the social media and advertising markets it has dominated for the last decade. But Facebook, which continues to battle privacy and security scandals, insists financial and social data will be separated. Nominate today for the Which-50 Digital Experience Awards.