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October 2, 2022
Finance Technologies

Payments industry underestimates Facebook Pay at its own peril

While Facebook may have missed the boat in some respects with launch of its Facebook Pay platform, people in the industry should underestimate the social media giant at their peril, say experts. Facebook Pay launched in November 2019 Tony Craddock, director general of the Emerging Payments Association (EPA), says that the idea of a Facebook Pay platform sends “a shiver” down his spine. “Of course, it’s wonderful to see an innovation like this, essentially integrating payments into social media,” he tells FinTech Futures. “But it does leave me concerned when it comes to Facebook’s reputation with security and privacy.” Facebook…
Payments industry underestimates Facebook Pay at its own peril

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