Facebook allows users to pay for products and services using its digital wallet, and now it’s expanding Facebook Pay beyond its own platform and into the stores of online merchants, beginning with Shopify.
Facebook lets brands, merchants, and individual sellers offer its digital wallet across its apps and platforms, including Facebook, Instragram, Messenger, and Portal.
On Wednesday, Facebook announced the following:
“Starting this August, businesses in the US who use participating platforms will have the ability to enable Facebook Pay as a payment option directly on their websites, giving their customers the ability to speed through checkout without having to re-enter their payment information.”
Facebook is starting the rollout with ecommerce platform Shopify and expects to expand availability with additional platforms and payment service providers over time.
The value proposition for online sellers: “Facebook Pay is designed to help businesses drive conversion higher by giving customers a low-friction and mobile-friendly way to pay online.”
Online publication Pymnts.com noted the challenge and the potential for the social media site: “While Facebook Pay is still only used by a small fraction of the consumers who currently buy goods and services in-store and online with Apple Pay or Google Pay, the social media giant’s 2.8 billion monthly active users is a formidable base from which to grow its newest revenue stream.”
You can learn more about Facebook Pay’s off-platform expansion on the Facebook website.