Facebook is expanding Facebook Pay across platforms other
than the company’s own, starting in August. The company’s payment system is currently
available on Facebook, WhatsApp and Instagram.
The social media giant is including several retailers in
line for this expansion, starting off with Shopify retailers. Sign up is open
for all merchants who may be interested to add Facebook’s payment system on
their sites.
This expansion will make the transaction process easier for retailers, as customers who use cards stored in their Facebook profiles can use them for online transactions. Moreover, it will impact Facebook’s data collection as well, the details of which the company has explained itself.
According to Facebook’s privacy page for Facebook Pay,
payments made with Facebook Pay will give the company information about the
purchase like the payment method, transaction date, and details of billing,
shipping and contact. The company also adds that it has designed the system “to
securely store and encrypt your card and bank account numbers.”
Not just that, but it will also impact the ads that viewers
see, as Facebook is also using Facebook Pay for purposes like delivering more
relevant content and ads to users, to provide customer support and to promote
safety and integrity. An example is buying a baseball glove on Facebook
Marketplace, and possibly seeing an ad for a baseball bat.
