A Meta spokesperson stated that the partnership is valuable for their overarching payments an financial services objectives as the bank offers a sizeable network of merchants, “including may beloved brands. Through this expansion, many more people will be able to use Meta Pay to seamless shop on the websites they love.” Additional benefits for businesses include:

Easy setup: Minimal integration required from businesses, as Meta Pay integrates with their payments platform. Secure: Payment card numbers are encrypted for safe and secure storage. The choice of a PIN, fingerprint or face ID to authenticate a payment adds extra security. For transactions made with Meta Pay, payment confirmation will be sent in an email. Fast checkout: No login required if a customer is signed into Facebook or Instagram. Customers speed through checkout with pre-filled details. No cost: No additional cost to businesses.

Earlier this year Meta rolled out payment options across Whatsapp and Instagram, reinvigorating the tech firm’s financial efforts post closure of the Novi (previously Libra) wallet.

Meta Pay 🤝 J.P. Morgan Payments 🚨Big news: We’re partnering with @jpmorgan to expand Meta Pay as a checkout option to their network of merchants! Now people will be able to use Meta Pay as an easy, secure way to pay in even more places while shopping online.🚀🛒💻📱 pic.twitter.com/vehLRVx00E — Stephane Kasriel (@skasriel) October 25, 2022

Finextra is on the ground at Money20/20, reporting on the event’s biggest updates and announcements. You can keep up to date with our coverage on Finextra’s Live@ page here.