PayPal shares closed the session on Tuesday after Facebook announced its new payment service, Facebook Pay. In contrast to PYPL, FB shares ended up almost 3% higher.
The company made the announcement directly through a blog post. According to the announcement, Facebook Pay will be implemented on the Facebook App and Messenger this week in the US with the possibility of donations, payment for games and in-game purchases, event ticket purchases and person-to-person payments in Messenger.
Facebook will also unveil its new service to a wider range of people and places, including Instagram and WhatsApp users.
Facebook Pay will give users the ability to pay via Facebook, Messenger, Instagram and WhatsApp as a service aimed at making transactions "unnoticeable".
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