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Facebook Pay Tests Use of Personalized QR Codes

May 4, 2021

QR codes are already helpful for containing more data than UPCs, plus they are encrypted and more secure than UPCs. QR codes have been critical for many touchless payment activities. Businesses are looking to facilitate more touchless payment solutions, so QR codes have never been more of a necessity. Programs like Venmo have especially been using these codes to manage safe transfers between people.

Facebook Pay is taking advantage of QR codes by testing person-to-person QR code payments. It will allow people to transfer funds between each other with one scan. The system can work for P2P deals, but it may also work well for traditional business purchases.

Facebook has not released details on how many people are testing the system. The group is slowly rolling this system out to identify what is working and how it can be used by the public. An emphasis on efficiency and safety will be critical.

The new QR code system will be similar to what Venmo already uses. But the new codes will be personalized to focus on specific people. These unique codes will ensure they can only work for specific P2P moves. It is exciting to see what might happen when getting it to work well, although details on when these codes will be available to the public remain unclear.

How Does This Work?

Facebook Pay’s new personalized QR codes entail a few steps:

  1. The user goes to the Facebook Pay carousel at the top of the screen.
  2. The user selects the Scan button.
  3. A QR code will appear on the screen. There will also be a unique URL at the bottom. The URL displays a unique code that matches up with the QR listing, confirming the data.
  4. The app then uses the device’s camera to scan the other person’s QR code.
  5. The user chooses the amount of money that will be transferred. This work includes whether the user will send money to that other person, or if the user will receive the funds from that someone.
  6. The payment will then be transferred after everything is confirmed.

Facebook Pay will also produce a payment link for those who want to utilize a more direct approach to handling payments. The process facilitates a secure process for transferring funds.

Each transaction will come with a different code. These codes will ensure each transaction is unique. The risk of an outside party copying or hacking into a system will be minimal, as a distinct code will work for each situation.

Focusing on Physical Payments

The new personalized QR code system will allow Facebook Pay to work for direct in-person transactions. Facebook Pay has already been supporting various online payments since its introduction in 2019. Facebook Pay is already part of various Facebook apps like Messenger, WhatsApp, and Instagram. But all earlier moves have been through the Facebook and Messenger apps. The P2P transaction support that Facebook Pay is seeking will improve how well people can complete these deals and get their accounts up and running.

The system would work for cases where someone needs to complete a payment with someone as soon as possible. These include situations where someone needs to pay for unexpected costs, or someone needs extra funds for some sort of activity. The new QR code system would help ensure people can complete these payments sooner.

Bringing New Attention

A critical part of why Facebook Pay is offering this feature is to increase awareness of the system. Most people aren’t fully aware of how Facebook pay can be utilized to transfer money between parties. But many may know about how they can purchase items through Facebook ads or the Facebook Marketplace. Providing personalized QR codes for P2P transfers will help people recognize what Facebook has to offer here.

Terms For Use

There are a few terms for users to follow when using these personalized QR codes from Facebook Pay:

  • All users must be at least eighteen years of age.
  • The only users that can use this feature right now are American customers. Facebook hopes to move this out to other countries soon.
  • Each person must have a supported payment method. These include a PayPal account or a Visa or MasterCard debit card. Facebook Pay can also support various prepaid cards or government-issued cards.
  • The system will remain free to utilize.

The terms are simple, but there is a potential they may change. Facebook’s current testing process will identify what will work for the QR code system.

When Is the Test?

Facebook Pay is currently testing these QR codes and should have them available to the public soon. Facebook has not divulged info on when these tests started or when they will end. It is possible more people will get access to these codes as the year progresses and Facebook refines the technology. It will make for an exciting point for those looking for a unique way to transfer money to others.

What About Novi?

The new feature for Facebook Pay is separate from Novi, Facebook’s cryptocurrency wallet. But there’s a chance that Facebook Pay could start working with Novi. The effort comes as Facebook continues to consider looking at a possible crypto choice.

A Potential For Growth

The Facebook Pay system makes it easier for people to transfer funds. The new QR code feature from Facebook Pay will produce an even more convenient approach to handling the effort.

The most substantial potential for Facebook Pay is that it could help create a viable P2P payment solution. Many people see Facebook Pay as a niche solution available mainly for Facebook users. But the special QR code support that Facebook Pay can handle will possibly make it closer to Venmo and other contenders. It could create a new system that makes it easier for people to complete transactions. It will be inviting for people to see how well Facebook Pay can work for their general payment needs.

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