Facebook Pay to launch for online retailers in August

Facebook has planned to enter into the online payments race with the launch of its Facebook Pay for online retailers outside its platform starting in August. Facebook Pay was launched in 2019 but so far it has been restricted to the Facebook platform and its associated platforms like Whatsapp and the company plans to extend this into its other platforms like Instagram as well shortly. But as this develops, the company also plans to throw open its payments system to online retailers and e-commerce platforms which will put it in direct competition with other giants like Paypal and Amazon as the payments space heats up.The digital payments industry is expected to grow exponentially in the coming months as the latest generation of users are being tuned to opt for cashless payments not only online but for offline purchases too. While this was going on, the pandemic also pushed the users to prefer digital payments as users were forced to stay indoors and make use of online digital payments even for their basic needs. This is why we have been seeing this industry grow very fast in all parts of the world during the pandemic period and investors are also piling…
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