Facebook on Monday said it has created a new unit devoted to financial services to harmonize payment systems on its platform. The new group, called Facebook Financial, will be headed by e-commerce veteran David Marcus, who was a president at PayPal before joining the leading social network six years ago. Marcus is one of the creators of Facebook's digital money network Libra, and heads the team building a Novi digital wallet tailored for the currency. Facebook Financial will handle management and strategy for all payments and money services across the Silicon Valley company's platform. "We want to be able to give people the ability to make a payment however they choose -- debit, credit or Libra digital currencies."

Source: Standard Digital August 11, 2020 07:16 UTC