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Facebook Pay

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Re: Facebook Pay

#211

Post by [deleted] »

BbzzbB wrote: post #115
uncomputation wrote: post #17

I 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?

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…

[deleted]

Re: Facebook Pay

#212

Post by alimov »

toomuchtodo wrote: post #109
darknavi wrote: post #104

Earlier quoted context omitted.

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.

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....

How will this impact things like Venmo or Apple Pay, both of which currently charge some % for instant transfer to your checking account.

Re: Facebook Pay

#213

Post by tentacleuno »

behnamoh wrote: post #63
IgorPartola wrote: post #57

Earlier quoted context omitted.

Facebook had a multimillion dollar business (yes, million, not trillion, but this was solid) in the form of FB marketplace. That was the one part of FB that was super useful and if they hooked it up with a secure payment system that worked with these kinds of transactions it could have been amazing. Instead they squandered it on ads, as they always do. The platform is now unusable.

Is there any good alternative to FB MarketPlace these days? Craigslist is just too old fashioned and most people I know don't use it anymore.

There's Gumtree[0], which is owned by eBay. Pretty popular over here in the UK.

[0]: https://www.gumtree.com

Re: Facebook Pay

#214

Post by searchableguy »

twelve40 wrote: post #128
toomuchtodo wrote: post #109

Earlier 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....

since we are talking consumers here, what would it look like to a regular user? would I have to walk around asking people for their account numbers and routing numbers to FedNow them the money?

In India, we have UPI and other forms of instant transaction system (all of them are free in any decent bank, I believe).

With UPI, you can connect your bank account (no matter which bank it is) with any UPI based payment app and create IDs which can be shared for receiving or requesting payments. (These IDs are unique on basis of both app and bank).

So I can connect my bank account to gpay and create a new ID. Send them to others who are using gpay or any other UPI app (bank apps also have UPI functionality built in). They can send the payment to the ID (which will be automatically added to my bank). This is instant.

It can also be used for requesting payment by others and I can accept or decline the request.

Alternatively, phone numbers can also be used to fetch the IDs a person has if you have enabled it (it's by default)

Re: Facebook Pay

#215

Post by The_Colonel »

likpok wrote: post #129
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.

That's the same way that Venmo (or any of the other p2p payments) work (though I guess Venmo has a specific "opt in to some extra protection for a fee").

Makes sense to me. Customer protection means bigger costs => bigger cuts on transactions. I would rather keep the cuts low.

Re: Facebook Pay

#218

Post by aembleton »

hammyhavoc wrote: post #91

Why would anybody want this versus existing alternatives? OK, the USP of sending money to your Facebook friends... well, if they're my friends, we've been sending money to each other for years when splitting bills etc. It's a solved problem.

I don't know. I went to the theatre last week with some friends. One of them bought the tickets and I didn't have her bank details. We organised everything over messenger.

With this Facebook Pay, I could probably just have paid her from within messenger. Instead I had to open my bank app and have it generate a link, copy that and paste it into messenger. The end result is the same; and with the link it would go straight into her account, but its just a bit more clumsy - using two apps, when with Facebook Pay one will do.

Re: Facebook Pay

#219

Post by [deleted] »

failedartifact wrote: post #164

Under the UK varient of the Facebook Pay site, the Instagram advert has the incorrect decimal separater: using the comma used with Euro's and not the dot/period. £16,50 UK uses commas, but only to separate by thousounds. This makes £16,50 seem like it was going to be £16,500 instead.

[deleted]

Re: Facebook Pay

#220

Post by hericium »

hericium wrote: post #179
slopirate wrote: post #151

Earlier quoted context omitted.

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 impressio…

> More than half the population of Earth logged into a FB product at least once last month.

(from parent's parent)

My repeated product/company question was not a mistake. I cannot find any source placing the number of Facebook (product/platform) users anywhere close to "half the population of Earth".

The number of Facebook and Instagram users combined (and WhatsApp even boosts this number) seems more suiting but under the assumption that there are no duplicate users logging to more platforms at least once monthly.

> They use it because they fucking love to.

Since I have already mixed user base and morality topics when pointing out brand choice, I'll allow myself to add: same with heroine users.

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