Facebook Pay is expanding the scope of its services, launching a service for person-to-person payments through QR codes. Users can scan the QR codes of friends or family members to transfer money instantly. Facebook Pay was launched in 2019. As a simple and convenient service, people can transfer money to friends and family, pay for businesses, buy products, etc. It is integrated into all Facebook applications, including Facebook, Messenger, Instagram and WhatsApp.
At the time of its launch, Facebook Pay already supports payments between people through Messenger and Facebook applications, and now the social media giant now hopes to target payments between physical people. The user will be prompted to add a new “Scan” button in the Facebook Pay interface.
By pressing it, the user can scan the QR code of a friend or family member, enter the amount, and then transfer. In addition, Facebook Pay has also launched a personalized payment link, which can automatically guide others to a secure page and transfer money to a designated account.
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This method of using QR codes to pay cash has been used in Asian countries for many years, but in the European and American markets where credit cards are already convenient enough, the payment method must solve a problem, that is, it must be easier or more advantageous than the existing methods.
If someone buys goods in bulk on Facebook Marketplace, it’s not difficult to see how the stored credentials and in-app payment mechanisms are the most convenient. Many people still find it difficult to see the scenario of using Facebook QR codes to make P2P payments in person (transfer and cash are still the absolute mainstream methods), nor do they think Facebook is a way of transaction or transfer. Facebook needs to change this concept in order for them to achieve meaningful development in the European and American markets.
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