- Facebook goes ahead with Libra, set up a consortium to launch virtual currency
- Facebook: cryptocurrency will be called Libra, coming in 2020
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November 14, 2019Facebook officially enters the world of digital payments. The company announces Pay, intended for users who use the company's app ecosystem led by Mark Zuckerberg, ie Facebook, Messenger, Instagram and WhatsApp, and who will "offer people a convenient, secure and consistent payment experience" among all applications. Facebook Pay will debut this week in the United States, and then spread to other countries, it can be used to make purchases, make donations or transfer money."Facebook Pay is based on financial infrastructures and on existing partnerships and is separated from the Calibra portfolio which will be based on the Libra network", the company specifies. The service will support most major credit and debit cards, including PayPal. To use Facebook Pay, you will need to add the payment method from the application settings or choose it when making a payment. "Users already use payments on our apps to make purchases, make donations for a cause or send money. Facebook Pay will make these transactions easier, while it will continue to keep payment information secure and protected," explains Deborah in an official post. Liu, Vice President Marketplace and Commerce of Facebook, stressing that card and bank account numbers will be securely stored and encrypted.