Facebook forms a group to purse payments opportunities

Thursday 13 August 2020 09:45 CET | News

Facebook has unveiled F2 (Facebook Financial), a new group to pursue payments and commerce opportunities.
F2 will be involved in building a digital wallet to hold the Libra cryptocurrency and in WhatsApp’s payments efforts in countries like India and Brazil. This is the latest step in a company wide effort to bring Facebook’s individual products and apps closer together.

The belief is that if users can make purchases on Instagram, Messenger, and WhatsApp, then Facebook’s advertising will grow more valuable, and users will spend more time inside the company’s apps. 

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Keywords: Facebook, Facebook Financial, payments, F2, payments, ecommerce, digital wallet, digital, Libra, cryptocurrency, WhatsApp, India, Brazil, Instagram, messenger
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce