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.