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Illustration: Sarah Grillo/Axios

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.

  • Since then, the company has announced plans for its own cryptocurrency and launched Portal, which puts a camera and microphone inside users' home.

Details: Facebook said it will roll out Facebook Pay on Facebook and Messenger this week in the U.S. for "fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger" as well as some businesses on Facebook Marketplace. The service will later expand to WhatsApp and Instagram, the company said.

What they're saying: "People already use payments across our apps to shop, donate to causes and send money to each other," Facebook VP Deborah Liu said in a blog post. "Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected."

Our thought bubble: The move comes shortly after Venmo owner PayPal backed out of the consortium backing Libra.

Go deeper

31 mins ago - Politics & Policy

Senate Democrats settling on 25% corporate tax rate

Sen. Joe Manchin (D-W.Va.). Photo: Chip Somodevilla/Getty Images

The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios.

Why it matters: While increasing the rate from 21% to 25% would raise about $600 billion over 15 years, it would leave President Biden well short of paying for his proposed $2.25 trillion, eight-year infrastructure package.

GOP pivot: Big business to small dollars

Illustration: Annelise Capossela/Axios

Republican leaders turned to grassroots supporters and raked in sizable donations after corporations cut them off post-Jan. 6.

Why it matters: If those companies hoped to push the GOP toward the center, they may have done just the opposite by turning Republican lawmakers toward their most committed — and ideologically driven — supporters.

CDC: Half of US adults have received one COVID-19 vaccine dose

Data: CDC; Chart: Axios Visuals

Half of US adults have received at least one dose of the COVID-19 vaccine and about a third are fully vaccinated, according to new data from the Centers for Disease Control and Prevention.

Why it matters: COVID-19 cases and hospitalizations are still on the rise, CDC director Rochelle Walensky said during Friday's White House COVID-19 briefing. With cases in many states being driven by variants, public health officials have emphasized the need to ramp up vaccinations.