On Monday, April 5, Facebook has added a new feature to its FacebookPay. The service has added a new method of contactless payment with Qr Codes. Now it is easier to pay through Facebook without being so close.
Facebook Pay QR Codes
According to SlashGear, it is already possible to send money through the Messenger and Instagram mobile apps when you are already in front of each other.
A QR Code is beneficial if you need to send money or pay someone who is not in your social circle. For instance, in an impromptu meeting or a quick exchange of money, Qr codes can assist with quick and easy transactions.
Facebook Pay was launched in 2019 as an easy and convenient way to send money to family and friends, make payments to businesses, and buy items. Facebook Pay is integrated across all of Facebook's apps, including Facebook, Messenger, Instagram, and WhatsApp. At launch, Facebook Pay supported person-to-person payments via the Facebook app and Messenger, and now the social media giant is aiming at physical payments.
Payment methods ought to solve a particular problem and be more accessible or advantageous than existing methods. For example, consider someone who visits Facebook Marketplace frequently or buys many items through Facebook ads.
In that case, an in-app payment mechanism utilizing a stored credential and stored credentials seems the most convenient. It does not seem evident why one would use Facebook QR codes for peer-to-peer payments in person.
Many Americans are not aware of Facebook's capability as a financial institution, so the company must change this perception for the service to gain any significant traction.
Facebook plans to engage people to embrace Facebook Pay as a mainstream payment option. It intends to encourage them to use it as a method of payment of various kinds. Despite that, the company still has work to do.
How to Use the New QR Codes
According to a report by MacRumors contributor Stephen Moser, Facebook users will be prompted with a new "Scan" button in their Facebook Pay carousel. Pressing enables users to scan a QR code for a friend or family member, select a specific amount, and transfer the amount. Additionally, Facebook Pay allows individuals to create personalized payment links, direct recipients to a secure page via which money can be transferred to their accounts.
By adding this latest feature, Facebook continues to prove its strength. However, its use during the pandemic will be limited. It is a friendly alternative to have if you meet with strangers or urgently need cash.
The real question is whether these new features will give Facebook Pay a significant boost in popularity. The platform is a niche market that operates within Facebook's circles and is primarily used to allow users to pay for goods or services using Facebook. Whether it becomes another Venmo or similar service depends on how well this new feature is received.
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Written by Lionell Moore
