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The New ‘Pay with Facebook’ Option Hints at Facebook’s Own Cryptocurrency

Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

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Specific Facebook users have noticed a new option in the app that invites them to “Pay with Facebook” along with a Bitcoin kind of icon. This fuels speculation that the social media giant is planning to launch its own cryptocurrency.

Pay with Facebook seems to roll out on the official app for Android and iOS. The name itself hints, that it is a method of purchasing goods, and above all paying for them, through the network partner. The new payment option appears to be an “Italian affair” only, as no other user outside the European country has reported seeing the new payment button at the time.

The main circuits, such as Visa and MasterCard, appear to be supported. There is also a symbol that resembles that of Bitcoins, but it is probably only a generic symbol for the Facebook payment system, even if some authoritative voices spoke of a cryptocurrency made on Facebook.

The platform wants to bet on transactions to try to increase the possibility of profit. In fact, a few days ago the news arrived of a new official cryptocurrency that will support both credit cards and cryptocurrencies. For the moment it is only a test since the option only appeared on some pages of the platform.

Payments are free and secure, it reassures the social network, but it is the choice of items to buy that seems to happen in a somewhat unusual way. Based on what we read, the buyer should send a request to the seller, and the latter will accept, based on his availability, sending a payment request to the buyer. In short, it seems a bit more cumbersome than a simple click and buy, but then it is so that the Facebook marketplace has always worked: with user messages.

This new  Pay with Facebook option seems already quite widespread both on Android and on iOS, but yes only in Italy. Facebook users other than in Italy, who are quite interested in this new option, really need to have their patience until the social networking giant confirms anything about this.

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