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While waiting for Libra, Menlo Park launches Facebook Pay

While the clamor around the affair does not diminish Pound, whose announced launch is still subject to strong opposition from the political world, Facebook seems intent on not staying still. In fact, Mark Zuckerberg's company has announced the arrival of a new payment system based on traditional money: Facebook Pay. A system that has been designed not only to facilitate payments on the most famous social media, but also on Messenger, Instagram e WhatsApp.

Deborah Liu's statements

The first comment from within the company came from Deborah Liu, Vice President, Facebook Marketplace & Commerce, who recalled how the company's new creation takes charge of make payments easier which already take place day after day within the various applications in order to make purchases, proceed to the reciprocal sending of money and donate in favor of beneficial causes. The launch of Facebook Pay was decided to ensure maximum security and protect the data relating to the people who make them.

The launch is scheduled for the week

The launch of Facebook Pay will take place during this week on Messenger and Facebook, but will initially be limited to the United States alone. Thanks to the new feature, users can participate in fundraisers, purchase tickets for various events, buy on Facebook Marketplace and complete payments between individuals on Messenger. This will pursue what is the underlying goal of the initiative, namely the promotion of a environment increasingly favorable to the needs of businesses, at the same time offering individuals from all over the world the possibility of making purchases and sales of items on the web.

The new payment system will have nothing to do with Libra

From within the company they have also made it known that Facebook Pay will be based on pre-existing financial infrastructures and partnerships, thus avoiding the need for other controls by regulators. Moreover the new payment system will not be used by the Libra Network.
A reassurance that seems to be made on purpose so as not to rekindle the increasingly heated clash between the company and politics, which during the summer months, those that followed the publication of the Libra White Paper, reached unusual levels.
It is enough to remember in this regard the increasingly determined opposition from the House of Representatives, with Maxine Waters, President of the Financial Services Commission, who even came to ask Menlo Park to renounce the launch of the digital currency, at least until a series of aspects that concern the institutions around the world have been clarified.
An increasingly strong opposition and such as to finally push many of the companies that had shown their interest in Libra to break away from the project, clearly deeming the clash with the policy inopportune. A disengagement that however, paradoxically, risks making the project even more dangerous, further increasing the role of Facebook, just what many would like to avoid in light of the questionable conduct of the company especially in the affair Cambridge Analytica.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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