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Despite Data Scandals And Privacy Issues Facebook Stock At All-Time High

The Times reported that Facebook has won exclusive rights to show all 380 live matches in parts of Asia

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Facebook plans sprawling office near Microsoft headquarters. IANS

Despite the massive Cambridge Analytica data scandal and a couple of users’ privacy issues owing to internal bugs, Facebook stock closed at an all-time record high of $203.23 on Friday.

Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 when it was under an intense probe over data breach from the US and European governments, Fortune reported.

Investors are also happy at the news that Facebook has grabbed its biggest sports streaming deal yet with the Premier League, reports IANS.  The Times reported that Facebook has won exclusive rights to show all 380 live matches in parts of Asia — Thailand, Vietnam, Cambodia and Laos — from 2019 until 2022, in a deal worth about $264 million.

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Investors are also happy at the news that Facebook has grabbed its biggest sports streaming deal yet with the Premier League. Pixabay

Since going public in 2012, Facebook has seen its stock rise more than 400 per cent.  In the latest privacy goof-up, Facebook admitted that over 800,000 users were affected by a bug on its platform and Messenger that unblocked some people the users had blocked.   The bug was active between May 29 and June 5 — and while someone who was unblocked could not see content shared with friends, they could have seen things posted to a wider audience, said Facebook.

Also readFacebook Shuts Down Three of its Apps

Facebook has already been grappling with privacy issues like the Cambridge Analytica data scandal involving 87 million users and another bug that changed 14 million users’ privacy setting defaults to public. (IANS)

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Here are All The Things One Should Know About Facebook Pay

According to the social networking giant, users do not need to download anything new -- Facebook Pay works seamlessly on the apps they use

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Facebook Pay
Eligible users can set up Facebook Pay by setting it up for use across all Facebook apps individually. Pixabay

Marking its foray into the digital payments system, Facebook has launched a new payments system named Facebook Pay which lets users send money to friends, shop and donate on the social networking platform and Messenger.

Currently available in the US, it will be expanded to Facebook-owned Instagram and WhatsApp later.

It is not yet clear if Facebook Pay will launch in India as Facebook’s plans in the country are focused around WhatsApp Pay as it has a massive WhatsApp user base in the country. However, it hasn’t been introduced so far due to regulatory issues.

It is also not known if both Facebook Pay and WhatsApp Pay will be introduced in India.

According to the social networking giant, users do not need to download anything new — Facebook Pay works seamlessly on the apps they use.

Mobile billing will also be a mode of payment on the platform, said the firm’s payment terms.

“Getting started is quick and easy. Simply add your credit card, debit card, or PayPal, and you’re good to go,” the company said in its support page.

Eligible users can set up Facebook Pay by setting it up for use across all Facebook apps individually. They can go to Settings > Facebook Pay, on the Facebook app or website, then add a payment method.

It is pertinent to note that Facebook Pay is also not connected to its proposed cryptocurrency wallet Libra.

The company will not charge a fee from the users for sending and receiving money via Messenger app.

Facebook Pay
Marking its foray into the digital payments system, Facebook has launched a new payments system named Facebook Pay which lets users send money to friends, shop and donate on the social networking platform and Messenger. Pixabay

Facebook may, however, subject users to fees from third parties for reversal charges or insufficient funds if attempted payments are rejected.

Users who are under 18 will not be able to use the peer-to-peer (P2P) payments service on Messenger.

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P2P is also not to be used for business, commercial, or merchant transactions. The company will discontinue payment services if it notices such prohibited transactions. (IANS)