Facebook on Tuesday announced Facebook Pay, an online payment system that will allow users across its services to send payments to one another.
The new product, separate from its Libra cryptocurrency effort, puts the social network giant in competition with Venmo and others.
Why it matters: Once again, Facebook will be asking users to hand over more sensitive information when it is under fire for how it manages the information and access it already has.
Between the lines: Facebook CEO Mark Zuckerberg said at F8 last year that the company wasn't going to slow down on developing new products even as it works to restore trust.
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