Facebook plans to expand Facebook Pay to more platforms

Facebook is expanding Facebook Pay to other platforms, starting with Shopify and expanding to online sellers’ stores.

Facebook Pay aims to help users increase conversion rates by providing customers with a low-friction, mobile-friendly way to pay online. Payment details are encrypted and stored securely, without the need for users to manage customers' card or bank account numbers.

Facebook will allow brands, businesses and individual sellers to use Facebook Pay for payments across its apps and platforms, including Facebook, Instragram, Messenger and Portal.

Facebook announced: "Starting in August, U.S. businesses using participating platforms can enable Facebook Pay as a payment option on their websites, allowing customers to check out quickly without having to enter their payment information a second time."

We understand that Facebook will expand to other platforms, starting with Shopify, and hopes to expand availability to other platforms and payment service providers.

"While Facebook Pay is currently used by only a small fraction of consumers who use Apple Pay or Google Pay to purchase goods and services in-store and online, Facebook's 2.8 billion monthly active users represent a strong foundation for growing its newest revenue source," the report noted.

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