Muhammad Talha Mubasher

The Impact of Facebook’s Libra Currency on Small Business Pages Facebook recently announced that they are launching the Calibra wallet along with their new currency Libra. The wallet will provide space for digital transactions via Libra currency. One can spend it on numerous materials and may send cash to people using it. The Calibra wallet will be used to conduct the transactions and will come as a built-in feature in apps like WhatsApp, Facebook Messenger, and other third party wallet applications. Libra currency is receiving support from numerous global companies that deal with payment. It includes the Visa and MasterCard too. Small business owners now have a thing or two more to worry about than merely their social media followers due to the uncertainty of how this change will impact their business. Libra and business pages If you are a person who runs a business page and sell some products, you certainly have something to worry about. The introduction of Libra means that you will have an additional payment option. Like it or not, it will be provided to the Facebook community, and you will have to deal with it. It certainly won’t be limited to facebook only as we learned that the feature would get added to WhatsApp too (and potentially to Instagram as well). So, if you haven’t already gone for the digital currency payment integration in your e-stores, this might be the time to do it. In order to facilitate payments through Libra, you will have to create a function in your site that can accept payments through cryptocurrencies. Benefits of Libra As a business owner, it is not necessary that you are negatively impacted by digital currency. In fact, Libra can be of numerous benefits to the individuals that conduct business on facebook. According to the news, the currency offers: Access to overseas customers: Often, international and online payment is a bit of a problem for most of the business owners. But with a payment system intact, you can capture the customers overseas. Take the payment through Facebook via Libra and ship the goods internationally. Easy checkout process: The current online checkout system is a time taking process that is also full of obstacles. You are required to input your card details and numbers along with other information. But with the digital currency, it will be just a few clicks away. Stable prices: A problem that most of the business owners fight with when trading online is the instability of a currency. When one currency drops off in regards with the other, the prices are likely to shoot up. But with the given digital currency, there will be more stability in terms of the value of a product. How much time you have? If you are confused about whether you should take the step immediately or not, you can give yourself some time. It is because the announcements are at the initial stage and you can give yourself time till 2020. As the authorities from facebook stated that there is still time, about 18 months, before the system is put into practice, you can wait a while and take a look at the further developments befor making any move.