Facebook Payment Facility and Security: Imperva comments

Facebook has introduced a new payment facility allowing users to send money to friends free of charge.

Facebook Payment Facility and Security: Imperva comments

Mark Kraynak, chief product officer at Imperva comments :

“The security scenario seems to be most similar to paypal use.  So the main risk I see for users is that someone will take over their Facebook account and be able to transfer money.  At first blush, the Facebook approach seems on par security-wise with Paypal.  I would recommend using the additional transfer authentication features that Facebook offers.  There’s been a lot of talk recently about increased fraud via Apple Pay and this offering doesn’t seem to be subject to the same issues (which is that fraudsters in possession of a stolen card number can abuse it via Apple Pay).  I think the main impact of this offering isn’t security, but that Facebook will undercut Paypal on fees.”

 

 

Twitter Digg Delicious Stumbleupon Technorati Facebook Email