Facebook Testing QR Codes for P2P Payments Like Venmo

Facebook Introduces New QR Code and Payment Link Features

Facebook has announced it is currently evaluating a new feature incorporating QR codes and payment links designed for use with Facebook Pay. This development aims to streamline the process of sending and receiving funds between users within the United States.

QR Code Functionality and Sharable Links

The newly implemented QR code system functions similarly to those found in Venmo and other peer-to-peer payment applications. Users will be able to utilize their smartphone cameras to scan a friend’s unique QR code, facilitating quick money transfers or requests.

In addition to QR codes, the platform will also offer sharable payment links. These links allow users to disseminate their payment address beyond the confines of the Facebook application itself.

Initial Discovery and Implementation

The initial observation of this addition was made on Monday by MacRumors. They reported that users were presented with a new “Scan” button within the Facebook Pay carousel located at the top of the screen.

Activating this button initiates a scanning interface, enabling users to scan another person’s QR code. The screen displaying the QR code also reveals a personalized payment URL, formatted as “https://m.me/pay/UserName,” which can be shared for payment or request purposes.

Official Confirmation and Scope

A Facebook representative officially confirmed the launch of the feature, but clarified its current status as a “test” limited to users in the U.S.

“We’ve begun testing the ability for people to use QR codes and payment links to simplify sending or requesting payments on Messenger,” the spokesperson stated.

Eligibility and Requirements

Currently, only users located in the U.S. are authorized to send payments through Messenger. Users must be at least 18 years of age to utilize the service.

To send and receive money, users will need a valid Visa or Mastercard debit card, a PayPal account, or a supported prepaid or government-issued card. Their preferred currency within the app must also be set to U.S. dollars.

Facebook Pay and its Evolution

Facebook Pay was initially launched in November 2019, with the intention of creating a unified payment system across all of the company’s applications.

However, it doesn’t directly compete with services like PayPal, as Facebook currently collaborates with PayPal as a supported payment option.

Current Applications of Facebook Pay

Facebook Pay currently facilitates payments in various areas of Facebook, including commerce, donations, and tipping. This encompasses platforms like Facebook Marketplace, Facebook Shop, and Buy on Instagram.

It also supports activities such as purchasing Stars for gaming creators, acquiring tickets to live events, and making charitable donations. A dedicated button within Messenger also allows users to send money to friends.

Relationship with Novi

At present, this payment experience remains distinct from Facebook’s cryptocurrency wallet, Novi. However, future integration between the two platforms is a possibility.

Limited Disclosure

Facebook has not disclosed further details regarding the test, including the number or percentage of users who will have access to the new QR codes and links, or the start and end dates of the testing period.