Facebook tests QR code-based P2P payments in U.S.

Facebook’s evolving suite of shopping and payment services now includes an option to send funds to another person via Facebook Pay using a QR code.

Facebook told MacRumors it’s testing the feature, which is not available yet to all users.

To initiate a QR code-based payment, eligible Facebook users open Facebook Pay and select “Scan,” enabling a contactless in-person transaction.

Use cases for QR codes — which gained popularity with retailers and restaurants during the pandemic — could include sending funds to an acquaintance, leaving a tip or making a donation.

Facebook Pay, which was introduced in November 2019 as the latest iteration of payment methods Facebook has been developing since 2007, operates across Facebook, Messenger, Instagram and WhatsApp.

Users can select Facebook Pay for in-app purchases on Facebook Marketplace and Instagram, with direct links to Shopify along with gaming, ticketing, donations and in-app P2P payments using Visa and Mastercard debit cards and PayPal as funding sources.

P2P transfers are not necessarily instant. Money is transferred right away but it may take a payment provider up to five days to post the funds.