Apple is currently working on expanding its payment systems, with the incorporation of a new pay by installments element for Apple Pay, and now Facebook is also looking to broaden its payment reach by making Facebook Pay available as a checkout option on third-party websites:
People already use Facebook Pay to send money, shop, donate and more, across Facebook apps and services. Now, for the first time, we're extending Facebook Pay availability beyond our own platforms to businesses who want to provide a seamless checkout experience for their customers on their own websites.
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. We're starting the rollout with Shopify merchants and expect to expand availability with more platforms and payment service providers over time.
If users get used to paying via Facebook Pay in more ways, that'll make them more likely to purchase more readily through the same on Facebook and Instagram as well. The process will also give Facebook more direct transaction data, which could help it better attribute ad response, despite losing access to a lot of user activity insight as a result of Apple's recent ATT data tracking update. Facebook does make a specific note that any payment details through Facebook Pay are encrypted. However, the platform would still have data on people's purchases.