How Mark Zuckerberg plans to make money with Facebook Pay

John Detrixhe
How Mark Zuckerberg plans to make money with Facebook Pay

Facebook, one of the world’s most valuable and profitable advertising companies (it also runs a social network), is making a major push into payments. The company formally announced Facebook Pay yesterday, a unified service for payment offerings across its family of apps, including WhatsApp, Instagram, and Messenger. Facebook Pay uses traditional financial channels and is separate from its Libra cryptocurrency project, which has hit a wall of regulatory resistance around the world.