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Facebook Is Working To Start Its Own Financial Company

 

The social media application Facebook will establish its own finance company and manage all shopping and payment transactions to be made through the social media network through this company.

Social media giant Facebook,  which includes applications such as WhatsApp and Instagram, is planning to establish a new financial company called F2 (Facebook Financial).

The social media platform will manage payment services such as Facebook Pay and WhatsApp Pay through this company in the first place and will enable the services to be used more actively.

Facebook CEO Mark Zuckerberg said he was very excited about the establishment of F2. Zuckerberg emphasized that thanks to this company, they expect more shopping and payment transactions to be implemented within the applications under the umbrella of Facebook.

On the other hand, F2 will also remove a significant burden on Facebook. Because Facebook's payment services are not accepted by every country and there is a great pressure on the company.

Therefore, the new financial company to be established will relieve Facebook by undertaking all these transactions.

Last year, Facebook considered launching its own crypto currency Libra, but it received reactions from many countries, especially the USA.

Facebook, which brought David Marcus, who manages Facebook's Libra operation, to the head of the new financial company it will establish, will also activate the crypto currency Libra as soon as it gets the opportunity.

 

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