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Facebook Inc. to pursue payments & commerce opportunities

August 12, 2020

Facebook Inc. to pursue payments & commerce opportunities

Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-writer of its Libra crypto currency undertaking, in price of the initiative.

Called F2 internally, short for Facebook Financial, the team will run all bills tasks, which include Facebook Pay, the company’s regularly occurring payments function that it plans to build internal all of its apps.

Marcus will keep going for walks Novi, the department this is constructing a virtual wallet to preserve the Libra crypto currency. He may also be concerned in WhatsApp’s payments efforts in countries like India and Brazil. Facebook has employed former Upwork Inc. Chief Executive Officer Stephane Kasriel to serve as a payments vice president under Marcus. Facebook shares slipped 1.5% to $264.26 on Monday, after hitting a record last week.

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