Facebook rolls out person-to-person payment via QR codes for Facebook Pay
Available in select countries.
Facebook will now allow users to scan QR codes with Facebook Pay to transfer funds instantly.
As reported by MacRumors, users will be provided with a Scan button, and pressing the button will allow users to scan a QR code. Then, select the desired amount and transfer the money. It is also introducing personalized payment links that will direct others to a secure page to make a transfer to your account.
Facebook Pay was launched in 2019 and continues to expand globally. The service has been an easy and convenient medium for users to transfer money to their family and friends, make online purchases, and the list goes on. During its launch, Facebook Pay supported person-to-person payments via Messenger and the Facebook app, and now it’s adding more features.
How it works:
With Facebook Pay, making payments is simple. Open your favorite app—Facebook, Instagram, Messenger, or WhatsApp—add your payment information, and you’re good to go. Availability varies by country.
Facebook Pay is available in select countries. You can check for the availability in your country.
According to The Economist, “(QR) format, are widely used in Japan and China, where (by one estimate) they enabled $1.65trn of mobile payments in 2016.” However, people in other parts of the world are not yet aware of the feature.
Last year, Facebook tested a new QR ‘Rewards’ program, which would enable Pages to use specific QR codes for their products and linked them back to user’s Facebook account.