I could be wrong but i believe the image that's making the rounds re what permissions the app CAN use, are just that, potential things it can do, not things it constantly does. Facebook (and so i assume Instagram and threads since its the same system) supports methods of payments like google wallet and linking a credit card. Its kinda like how when you sign up for these things you give them "permission" to use your pictures etc, because obviously they need that permission in order to actually show your images, it doesn't mean they can just do whatever they want with photos you upload, same for financial info.