Why not Meta Pay? Applies to all the apps, sounds shmancier. Not that I want to help this company.
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Facebook Pay
171–180 of 262 posts
Re: Facebook Pay
#172I've been waiting for this for 3 years. After using Instagram a bunch, I found the targeted ads got pretty good: most were for things I was interested in, such as tech gadgets or crafts for my kids. However, clicking on an ad and buying something was so much higher friction than the rest of the mobile Instagram experience that I often just gave up. Since then, I assumed FB must be working on some sort of payment serv…
> friction
It would be cool to be able to impulse donate as easily as you can click "Like" when you see some ad for some cause you care about.
Re: Facebook Pay
#173Off topic, but I really hate this trend of using animate-in transitions for _every_ _single_ _section_ of the page. Why I do always have to scroll into a half a window's worth of blank background before the content appears with some cutesy slide-in animation? I could perhaps forgive it if it was just badly implemented lazy-loading images but it also does this for simple section titles and body text as well. It ends u…
it s like watching a clockwork from the 17th century. It's gotten old
Re: Facebook Pay
#174Earlier quoted context omitted.
E-commerce (mostly for IG) and payments (mostly for WA, somewhat for Messenger) have been parts of the Facebook bull case for a long time. Why do people think companies of >70k people can't focus on more than one product/service? Not you in particular, just generally, I spend more time than I'd like to admit on "fin-Twit" and people expect FB has suddenly buried every plan aside of VR since they rebranded. I would sa…
Isn’t this because in China some chat and payments app is absolutely massive, WePay I believe? Edit: It’s WeChat. The SV giants are chasing the ubiquity that app enjoys.
I figured I'd point out why you're (probably) being downvoted in case you don't understand. The problem of payments is obvious, it's literally ancient. It's a ridiculous and naive statement that anyone would have to look at WeChat to realize it's a valuable problem to solve.
Re: Facebook Pay
#175Earlier quoted context omitted.
E-commerce (mostly for IG) and payments (mostly for WA, somewhat for Messenger) have been parts of the Facebook bull case for a long time. Why do people think companies of >70k people can't focus on more than one product/service? Not you in particular, just generally, I spend more time than I'd like to admit on "fin-Twit" and people expect FB has suddenly buried every plan aside of VR since they rebranded. I would sa…
Isn’t this because in China some chat and payments app is absolutely massive, WePay I believe? Edit: It’s WeChat. The SV giants are chasing the ubiquity that app enjoys.
WeChat Pay (Tencent) and AliPay (Alibaba) are both huge indeed. I have no clue how much cash they bring in, tho I would expect Visa and Mastercard make way more, but they are widely used, especially the former (WeChat is quite the super-app in China)
The reason why they would want this, in my interpretation anyway, is that there is a lot of product fit to have payments on WhatsApp. The app is widely used outside NA as the communication channel, namely by lots of SMBs that actively use it (see [0], that app is solely used for business owners as it's rather useless for a regular WA user). The monetizing opportunities on WA are deeply tied to SMBs, basically you should be able to operate a business on WA in which case you shouldn't have to go off-app once you get to payment, removing payment-middlemen is probably in the interest of all three parties involved too. Payments are necessary to enable "business over chat", you can also see them working on this with Click-to-WhatsApp/Click-to-Messenger ads and the acquisition of Kustomer. This is all valid for Messenger as well but I think that's more of a TBD, it's yet to prove itself popular for that kind of usage, tho there is a good fit for Marketplace and to compete with Venmo. It's also implemented on Facebook and Instagram for their respective Shops platforms, I don't think there's more to it than that for those.
Just like Apple Pay is a rounding error[1], I wouldn't bet on payments being a significant cash cow, not any time soon anyway, considering Facebook's approach to monetization. IMO it's more about deepening the moat and broadening the utility of the apps, especially WhatsApp as it tries to become something of a communication+commerce+payments super-app for Asia/Latam/Africa (credit cards and phone numbers would be rough to displace in North America and Europe, I sure as hell wouldn't bet on FB overtaking those). A Signal or a Telegram could take over a chatting app (if it somehow reaches, like, 2B people), it would be much harder (as if it wasn't hard enough to beat such a network effect) to take over a chatting app with a built-in suite of features for businesses and a user base that gets accustomed to commercial use of said app.
I could also be entirely wrong, I'm just an idiot that tries to follow the company.
0: https://www.statista.com/statistics/1276030/whatsapp-busines...
1: https://www.statista.com/statistics/1060577/apple-pay-revenu...
Re: Facebook Pay
#176I read the entire article, but they don’t mention the details of how they’re going to make all your purchase history available to advertisers, and how they’re going to use this to track you around the internet even better to spam you with more ads of things you just bought. Maybe I just missed these details though…
"""
Facebook will receive your Facebook Pay order information and may use the data as outlined in our Data Policy. This includes showing your transaction information in your Facebook Pay settings. The actions you take with Facebook Pay can be used for purposes such as to serve you more relevant content, provide customer support, and promote safety and integrity (example: to investigate violations of our policies). The payment card numbers you provide won’t be shared with anyone for marketing purposes, used to personalize your experience nor inform the ads you see without your consent. Learn more about what Facebook Pay does with your payment information.
"""
Re: Facebook Pay
#177Earlier quoted context omitted.
What if someone don't use Messenger? Venmo/Paypal are still the most popular options in my circles, largely because they are not tied to any specific platform.
It says it works across WhatsApp, Instagram and Facebook. What are the chances of someone having none of those?
We do exist! Never had WhatsApp or instagram, deleted Facebook more than a decade ago.
Re: Facebook Pay
#178I can’t think of another company I’d want less to know my transaction and purchase history than FB/Meta. What happened to Zuckerberg’s shift to “video” or are they truly throwing anything and everything at the wall now?
I agree. The terrible thing is is that it's the easiest solution for me and my friend group to send money via Messenger. The US has _really_ dropped the ball on any sort of easy-to-use, standardized money transfer. Zelle is the closest thing and it is a joke for every day usability.
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Re: Facebook Pay
#179Does Facebook, as a product, even has userbase for this? I find it weird that they used this branding. For some time now, FB has the "old people social media" label. Also would they create a new brand (or MetaPay or whatever), some people might not connect it to Zuck's trash mentality, morality and overall creepiness. I wouldn't be surprised if folks working at Meta consider themselves the good guys, like Google cult…
I think you need to step outside of your bubble. More than half the population of Earth logged into a FB product at least once last month. They don't use it out of love or pity for Zuckerberg. They use it because they fucking love to.
Are you referring to FB as a product or company? I have no love for Facebook nor other products of its owner, Meta, but I am not surprised that the company introduces payments.
Just that they chose to brand it as an attachment to the Facebook product. "Meta" currently operates with moral tabula rasa when it is not referred to as "FB/Meta". Facebook - in both meanings - seems to be disgraced. I was under the impression that the name change was, among other reasons, due to low reputation.
> I think you need to step outside of your bubble.
The issue with living in a bubble is a somewhat distorted reality. I am aware of this and _trying_ not to be shortsighted. I feel otherwise quite comfortable in my moral bubble. Often I have to go out of my way to achieve something, but for me life is about agreeing with self not about making everything easy.
Re: Facebook Pay
#180Earlier quoted context omitted.
US instant payments drop in 2023. Definitely sucks it took this long, but it’ll be ubiquitous and replaces ACH. https://www.frbservices.org/financial-services/fednow/about....
If it's anything like in the EU (more specific: SEPA-Zone) then in 2027 you can meaningfully use it.
Funny, never had a problem with it, even across countries