A peek at Facebook's plans for mobile payments

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August 25, 2020

Facebook, the world's largest social media platform, is planning to introduce mobile payment options which will include Facebook Pay.

The move will give the 2.50 billion Facebook users an easier and more user-friendly interface to pay, according to a report in Finance Rewind.

Facebook Messenger developer David Marcus will lead the development.

Facebook's plan for mobile payment options opens up competition between payment apps such as: Apple Pay; Pay Pal; Paytm; AmazonPay; and Google Pay.

Facebook's chief, Mark Zuckerberg, told the news outlet Facebook is ready to compete with other payment apps and platforms.

The upcoming app has yet to be named but it will be available first in the U.S. and after that, worldwide.