O WhatsApp Beta latest version includes references to a new service called Facebook Pay, a kind of digital wallet for different means of payment. This can be a tool to make life easier for companies: the customer could pay directly through the application. It would also be possible to transfer money to your contacts.
According to the WABetaInfo, Facebook Pay appears in WhatsApp Beta 2.19.260 for Android “related to payments in Mexico”. The interface is quite simple for now, offering only the option to add payment methods.
In May, the WABetaInfo revealed that WhatsApp would gain a payment service in Mexico, the United Kingdom and Brazil. This has been available in India since last year: WhatsApp Payments allows you to send and receive money securely with UPI, a system regulated by the Reserve Bank of India.
It therefore appears that Facebook Pay will be the new name for WhatsApp Payments. The company has been unifying its brands to make it clear that Instagram and WhatsApp belong to Facebook.
This could also fit into the plans of the Libra cryptocurrency. When launched in 2020, it can be used through a digital wallet built into WhatsApp and Messenger, or through an independent app.
Facebook Pay can be used on Messenger and Marketplace
In addition, researcher Jane Manchun Wong discovered a Facebook Pay transaction page within the Facebook application: it mentions money sent via Messenger, purchases on the Marketplace and recurring payments (a page subscription and a donation made monthly).
Facebook is working on “Facebook Pay” transaction page pic.twitter.com/yyOdhHyfUW
– Jane Manchun Wong (@wongmjane) September 13, 2019
AND some users in Italy started to see the option “Pay with Facebook” within the Marketplace. Thus, it is possible to make a purchase with payment via Visa or Mastercard without leaving the platform.
These are signs that Facebook is eyeing financial transactions to continue making money, and to rely less on ads, as users migrate from the news feed to Instagram and WhatsApp.
With information: WABetaInfo.