• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Facebook Launches Payments Platform

November 13, 2019

Facebook Launches Payments Platform

Facebook has officially launched Facebook Pay, its own competitor to online payment services like Apple Pay, Google Pay and Venmo.

Despite the problems the social media giant is facing with its Libra cryptocurrency — PayPal recently announced they would be leaving the founding group of Libra, leading to the exit of Visa, Mastercard, eBay and Stripe, leaving it without the support of a payment processor — PayPal and the major debit and credit card providers are available for use with Facebook Pay.

Users can make purchases from the Facebook Marketplace — limited to a few select stores and pages at first — and can also make donations, buy event tickets, and send money to friends using the payment app.

With regards to security, Facebook Pay will support multimodal biometric security, with users having the option of using a PIN in combination with biometric authentication, depending on the capabilities of the device being used to log into the service.

Facebook also noted that permissions given to the service will not translate across apps — so if a user authorizes a payment on Instagram it will not automatically do so on WhatsApp or Facebook unless further authorization is granted.

Speaking to the security features of Facebook Pay, Vice President of Marketplace and Commerce Deborah Liu said “we designed Facebook Pay to securely store and encrypt your card and bank account numbers, perform anti-fraud monitoring on our systems to detect unauthorized activity and provide notifications for account activity. You can also add a PIN or use your device biometrics, such as touch or face ID recognition, for an extra layer of security when sending money or making a payment.”

Available now in the U.S only — though a wider rollout is promised soon — Facebook Pay will eventually allow users to make payments across all of its four major services including Instagram and Whatsapp, though currently it is limited to Facebook and Messenger.

Sources: Android Central

Filed Under: Featured, Industry News Tagged With: Apple Pay, biometric identification, Biometric Security, Facebook, Google Pay, Libra, Libra cryptocurrency, multimodal security, payments platforms, PayPal

Related News & Articles

Vivo, Megvii Team Up On 3D Face Scanning

Zwipe CEO Demos Biometric Payment Card in New Video

D-ID Launches Anti-Facial Recognition Image Processing Tech

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Thai Authorities Approve Mobile ID for Airport Boarding
  • New Yoti Solution Ties Biometrics to e-Signatures
  • Kenya’s New President Pushes for Digital ID By Year’s End
  • MDL, Digital ID Gain Momentum in State Efforts
  • Brazil-based Selfie Onboarding Startup Reports 250% Sales Jump, Global Expansion

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld