No, this is not a Facebook Libra related system.
Facebook Pay is a platform that will be available in the US first this week. However, as it will appear in other countries in the future, it is worth explaining how Facebook Pay should work.
Of course, Facebook Pay is a system to which the user will have to connect the debit or credit card during registration. After this process, which can be done through the Facebook page or application, the user will be able to use the system to send money to friends and family, transfer their funds to charity, to pay for microtransactions in Facebook games and to shop in the Marketplace.
It should be noted that Facebook Pay will be available for use only on Facebook applications – initially in Facebook and Messenger only, and then also in Instagram and WhatsApp. The Facebook platform will not work like Google Pay, which we can pay for phone rolls at the supermarket via phone.
Facebook assures that Facebook Pay is to be a safe platform and guarantee users privacy (may it be). The data of Internet users who will use it will not be used by the company. These are to be invisible to her. The same cannot be said for information about the type and purpose of payment that can be used to target ads.
After reading certain paragraphs, you probably ask yourself a question "for what?". Well, does Facebook Pay even make sense? Probably not, especially since there are plenty of alternatives on the market. Still, he will probably find his user base. Well, this system can at least facilitate and speed up various payments on Facebook platforms.