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Facebook Pay

pay.facebook.com

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Re: Facebook Pay

#41

Post by makeitdouble »

rootusrootus wrote: post #27
AlexandrB wrote: post #12

Earlier quoted context omitted.

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.

To note, credit card companies are open about this in the contracts you sign, and it’s their core business model so there is no possible surprise element.

Re: Facebook Pay

#42

Post by w-j-w »

bostonsre wrote: post #39
jjulius wrote: post #31

Earlier quoted context omitted.

"We want to rebrand to Meta to help our image, but let's name the payment app that'll be used across all of Meta after the specific brand that's been the focus of all of that bad publicity."

Maybe they are scared that something shady about it will be exposed later so they are branding it with Facebook, an already tarnished name, and keeping the Meta brand clean?

No post body was provided.

Re: Facebook Pay

#44

Post by hestefisk »

It seems to be using normal debit / credit card payments behind the scenes, so it’s not going to eat the banks’ lunch too much just yet. What would be really good is if they could do A2A payments and circumvent the Mastercard / Visa merchant payment rails and fees. That could be a game changer.

Re: Facebook Pay

#45

Post by selimthegrim »

saradhi wrote: post #7

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

I remember being able to buy PIA tickets from USA in 2014 using my credit card somehow - I think some Pakistani bank had contracted with Verified by VISA

Re: Facebook Pay

#46

Post by keyle »

So,... NotMetaPay?

Seems like this is 3 years behind everyone else... Which is a bigger issue than the branding itself. I couldn't find one aspect that made it have a competitive advantage over already established brands.

Re: Facebook Pay

#47

Post by rndphs »

rootusrootus wrote: post #27
AlexandrB wrote: post #12

Earlier quoted context omitted.

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.

Yeah but Facebook is primarily an advertising company, and one of the biggest advertising companies at that. They can much better leverage this data and milk it to a much greater extent. People aren't going to your bank or credit card company in order to buy ads targetting you.

Re: Facebook Pay

#48

Post by [deleted] »

xiphias2 wrote: post #40

This should have happened for a long time. Facebook's properties are the places where my friends naturally ask for money from me to help. Even with all the negativity I see here in other comments, this is the natural way for Facebook to grow, not trying to compete with the Federal Reserve.

[deleted]

Re: Facebook Pay

#49

Post by [deleted] »

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…

[deleted]
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