About: http://data.cimple.eu/news-article/86f76249e34658cb42db9c1aae789ca01b940f9fa45937364b56f633

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About: http://data.cimple.eu/news-article/86f76249e34658cb42db9c1aae789ca01b940f9fa45937364b56f633 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	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. The Novi wallet -- set to launch when Libra coins debut -- promises to give Facebook opportunities to build financial services into its offerings, offer to expand its own commerce and let more small businesses buy ads on the social network. Facebook Financial will handle management and strategy for all payments and money services across the Silicon Valley company's platform. "Today various payments features exist across our apps, and we want to make sure decision making, execution and compliance are not fragmented," Facebook said in an email reply to an AFP inquiry. "We want to be able to give people the ability to make a payment however they choose -- debit, credit or Libra digital currencies." Noting security concerns posed by Facebook's yet-to-be-launched digital currency Libra, the Federal Reserve last week revealed plans for its own instant payments system. FedNow will provide households and businesses with instant access to payments, for wages, government benefits or sales, without waiting days for checks to clear, the Fed said. The system, which is not due to launch for two to three years, "will be designed to maintain uninterrupted 24x7x365 processing with security features to support payment integrity and data security," the central bank said. Facebook's announcement last year of plans to design the Libra cryptocurrency and payments system raised immediate red flags for global finance officials who expressed a barrage of withering criticism about the security and reliability of a private network. gc/to
schema:headline	Facebook creates unit devoted to financial services
schema:mentions	Financial services Digital media Facebook Messenger Digital wallet Data security E-commerce Social networking service Digital currency PayPal Agence France-Presse Federal Reserve Cryptocurrency Currency David A. Marcus GTM Libra Silicon Valley
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-08-11 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	88 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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