In a blog post published on Monday, PayPal Holdings Inc. announced an integration with Facebook social network.
PayPal's integration with Facebook will bring PayPal payments and notifications to Facebook's Messenger chat service, giving users the ability to avail more options for easy and secure online transactions.
The integration will make PayPal a new mechanism for Facebook to enable users to pay across a broader range of new online shopping features. The availability of PayPal payments will make it possible for users to receive notifications about any purchase - such as receipt - directly via Facebook Messenger, without the need to open a separate app or website.
With Payments in Messenger to be an alternative to PayPal's own apps, including the much-liked Venmo, Bill Ready -- PayPal's chief operating officer -- said that PayPal's integration with Facebook will not extend to digital person-to-person (P2P) payments, an area in which PayPal and Facebook offer competing services.
Meanwhile, drawing attention to the fact that Facebook Messenger chat service is used by people and businesses to exchange more than one billion messages a month, Stan Chudnovsky -- Facebook's head of product for Messenger - said about PayPal's integration with Facebook: "We're thrilled that financial services companies...continue to expand their partnerships with us."