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Facebook Pay

pay.facebook.com

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21–30 of 262 posts

Re: Facebook Pay

#21

Post by mttjj »

> For extra security, set up a PIN, face ID or fingerprint to confirm a payment at checkout.

This doesn’t sound appealing to me. They’re surely storing this biometric data on a server somewhere, right? I use FaceID or my Apple Watch to pay with ApplePay all the time but my biometrics never leave my device.

I don’t follow Facebook all that closely (never used any of its services). Do they have other services that use (require?) face or fingerprint identification? Or is Facebook Pay a sly way for them to start harvesting this data?

Re: Facebook Pay

#23

Post by na85 »

bluedevil2k wrote: post #5

I 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…

Don't worry, some people who made their money from ads or ad-dependent business models will be along shortly to tell us how ads are actually a good thing, and targeted^H^H^H^H^H^H^H^H "relevant" ads are even better.

Re: Facebook Pay

#24

Post by mysterydip »

LeoPanthera wrote: post #15

The small print is scary, at least compared to a service like PayPal. There's absolutely no consumer protection unless you're actually buying something from Facebook themselves, and for any kind of returns or refunds the advice given is "contact your bank". Yikes.

At least it will be easier to detect scams on marketplace now. As soon as they ask you to pay with facebucks, you know you're going to lose your cash!

Re: Facebook Pay

#25

Post by zippercreatemy »

audeyisaacs wrote: post #11

I wonder how they're doing this in AU, can't see any info about APRA registration as an ADI/ERS user...

Prepaid accounts, just like Bunnings, Target, Woolies, your favourite restaurant.

You are not making a deposit as you don’t earn interest and you do not have FCS protection. Given the size of FB I don’t think this is a problem.

Re: Facebook Pay

#26

Post by shrvtv »

The company, which hasn't been able to figure out the UI hell of the core product for more than a decade now must never be trusted with processing payments.

Especially when you know where the data will end up, what will happen to it next and how the company makes money (98.5% from targeted ads)

Re: Facebook Pay

#27

Post by rootusrootus »

AlexandrB wrote: post #12
bluedevil2k wrote: post #5

I 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…

From the "Security and Protection" sub page[1]. > What you buy is your business. Your transactions are confidential—and aren't shared to your Newsfeed—unless you choose to share them. So yeah. Confidentiality is defined as "not shared on your Newsfeed". Safe to assume Facebook is going to milk this data for all it's worth. There are also some other whoppers: > If there is an unauthorized Facebook Pay transaction on y…

> Safe to assume Facebook is going to milk this data for all it's worth.

I'm no Facebook fan, but let's be honest. Your bank, credit card company, and merchants are all doing exactly the same thing. Perhaps the bank is regulated tightly enough that it isn't quite as bad, but the others definitely are.

Re: Facebook Pay

#28

Post by gilgamesh327 »

saradhi wrote: post #7

WOW. Available in Pakistan, while Stripe is yet to enter and PayPal gave up.

It's also available in Iraq, a place where PayPal is yet to set foot, with the growing small business sector there, it'll be interesting to see how it unfolds.

Re: Facebook Pay

#29

Post by EGreg »

Why can’t crypto be like that?

Centralized Social networks like Faceboon and WhatsApp can roll out a payment system nearly overnight and have it accepted at millions of merchants. Crypto after 10 years is hardly accepted anywhere…

Re: Facebook Pay

#30

Post by smsm42 »

AlexandrB wrote: post #12
bluedevil2k wrote: post #5

I 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…

From the "Security and Protection" sub page[1]. > What you buy is your business. Your transactions are confidential—and aren't shared to your Newsfeed—unless you choose to share them. So yeah. Confidentiality is defined as "not shared on your Newsfeed". Safe to assume Facebook is going to milk this data for all it's worth. There are also some other whoppers: > If there is an unauthorized Facebook Pay transaction on y…

Wait, so their solution to fraud is "send us an email and pray something happens"? Neat. If I could trust this thing less I would, but the word "Facebook" in the name already pegs it at zero, so... Hard pass.

And about storage, ok, read this:

Anti-fraud technology monitors purchases on our systems to detect unauthorized activity. Your payment method is not shared with buyers, sellers, or merchants without your consent, and is stored separately from your account data.

And tell me it doesn't say all payment data is stored on FB servers and mined by all their algorithms.

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