Facebook is set to launch a new payment system across its three social media platforms allowing users to shop, make donations and send money within its apps.
Facebook Pay, unveiled by the social media giant this week, will enable users to make payments inside Facebook, Messenger, Instagram and WhatsApp and will be “built on existing financial infrastructure and partnerships”.
Though customers can already send money through Messenger and some users in the US can make purchases via Instagram, this represents the group’s first concerted push to integrate ecommerce more deeply into its business model.
This week Facebook Pay will be launched in the US on Facebook and Messenger allowing users to make purchases from certain businesses and make peer-to-peer payments.
It will then “bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp” over time.
Facebook’s individual platforms have been introducing features aimed at laying the foundations for increased ecommerce integration over the past year.
Just last week WhatsApp introduced catalogues to its WhatsApp Business arm, allowing retailers to display pictures, prices and information about their products, while providing a direct link to their purchase pages.
Back in March, Facebook added a shopping feature to its Instagram platform that allowed users to click a ‘checkout’ option on an item tagged for sale, enabling them to pay for it within the app.