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Facebook not yet ready with digital payments on Messenger in India

When launched, the new payments feature is set to give a tough competition to Paytm and other digital payment services like Google Tez

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Facebook
Facebook unveils new VR headset 'Oculus Quest'. Pixabay

Facebook has no plans as of now to bring digital payment facility to its Messenger application in India, informed sources said on Thursday. “There are currently no tests planned for recharges or peer-to-peer payments on Messenger in India,” the sources told IANS.

Factor Daily had reported that Facebook has begun a beta version of recharge payments for mobile phone and other prepaid services on Messenger. “Mobile recharge option is a Facebook ‘Marketplace’ offering — which is actually going on as a pilot test which is right now available to only Android users in some regions,” the sources added.

The icon of Facebook.
Facebook has many fake profiles. Pixabay

Launched in 2016, Marketplace is a user-to-user exchange platform for buying and selling goods with others within the community. Currently, the peer-to-peer payment service on Messenger is available for its users in the US and the UK.

More than 1.3 billion people around the world are now using Facebook Messenger every month. The growth of Messenger now puts the app at par with Facebook-owned WhatsApp which also has over 1.3 billion monthly active users (MAUs). WhatsApp, however, has rolled out the testing phase of its digital payment feature in India — a first such move globally — which will be officially rolled out to its over 200 million Indian users in the days to come.

Also Read: Facebook introduces new privacy updates for EU users

When launched, the new payments feature is set to give a tough competition to Paytm and other digital payment services like Google Tez. The payments feature would take advantage of UPI (Unified Payments Interface) and include support by a number of banks, including the State Bank of India, ICICI Bank, HDFC Bank, and Axis Bank. IANS

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Facebook To Invest $300Mn In Local News Partnerships, Programs

The idea behind the investments, Brown said, is to look “holistically at how a given publisher can define a business model."

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Facebook, dating
Facebook owned photo-messaging app Instagram already supports the "Unsend" capability VOA

Facebook says it is investing $300 million over the next three years in local news programs, partnerships and other initiatives.

The money will go toward reporting grants for local newsrooms, expanding Facebook’s program to help local newsrooms with subscription business models and investing in nonprofits aimed at supporting local news.

The move comes at a difficult time for the news industry, which is facing falling profits and print readership. Facebook, like Google, has also been partly blamed for the ongoing decline in newspapers’ share of advertising dollars as people and advertisers have moved online.

Facebook, Fake News
A user gets ready to launch Facebook on an iPhone, in North Andover, Mass., June 19, 2017. Facebook has made changes to fight false information, including de-emphasizing proven false stories in people’s feeds so others are less likely to see them. VOA

Campbell Brown, Facebook’s head of global news partnerships, acknowledges the company “can’t uninvent the internet,” but says it wants to work with publishers to help them succeed on and off the social network.

“The industry is going through a massive transition that has been underway for a long time,” she said. “None of us have quite figured out ultimately what the future of journalism is going to look like but we want to be part of helping find a solution.”

Facebook has increased its focus on local news in the past year after starting off 2018 with the announcement that it was generally de-emphasizing news stories and videos in people’s feeds on the social network in favor of posts from their friends.

At the same time, though, the company has been cautiously testing out ways to boost local news stories users are interested in and initiatives to support the broader industry. It launched a feature called “Today In” that shows people local news and information , including missing-person alerts, road closures, crime reports and school announcements, expanding it to hundreds of cities around the U.S. and a few in Australia.

Facebook, social media
Silhouettes of laptop users are seen next to a screen projection of Facebook logo in this illustration. VOA

The push to support local news comes as Facebook, which is based in Menlo Park, California, tries to shake off its reputation as a hotbed for misinformation and elections-meddling. The company says users have been asking to see more local content that is relevant to them, including news stories as well as community information such as road closings during a snowstorm.

The $300 million investment includes a $5 million grant to the nonprofit Pulitzer Center to launch “Bringing Stories Home,” a fund that will provide local U.S. newsrooms with reporting grants to support coverage of local issues. There’s also a $2 million investment in Report for America as part of a partnership aiming to place 1,000 journalists in local newsrooms across the country over the next five years.

The idea behind the investments, Brown said, is to look “holistically at how a given publisher can define a business model. Facebook can’t be the only answer, the only solution — we don’t want the publisher to be dependent on Facebook.”

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Fran Wills, CEO of the Local Media Consortium, which is receiving $1 million together with the Local Media Association to help their member newsrooms develop new revenue streams, said she is optimistic the investment will help.

“I think they are recognizing that trusted, credible content is of benefit not only to local publishers but to them,” she said. (VOA)