Facebook has launched its very own payment system called ‘FaceBook Pay.’ The payment feature will be available across all of Facebook’s apps including WhatsApp, Instagram, and Messenger. The feature allows you to send and receive money from friends, family, business establishments and fundraisers.
Facebook Pay will begin rolling out on Facebook and Messenger this week in the US for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and businesses on Facebook Marketplace. And over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp.
Facebook Pay will be baked into the Facebook app and will be added to the Settings section. It will support all major debit cards, credit cards and also PayPal. Facebook has faced quite a lot of issues after the Libra fiasco. A majority of payment companies withdrew support from Facebook’s Libra project. And this made it much more difficult for the company to convince payment companies to come together and work with them.
Facebook has not revealed when the Pay feature will be available across all of its apps. However, the company is rolling out Facebook Pay in the US this week. The company says “And over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp.”
How to Setup and use Facebook Pay
Here is how you can set up and start using Facebook Pay,
- Go to Settings> Facebook Pay. You can do this on the app/website
- Add a payment method and punch in your card details
On the security front, Facebook Pay offers encryption and also allows you to use biometrics like Touch ID and FaceID to authenticate the payment. Facebook-owned WhatsApp has been offering a payment feature in India for quite some time.[via Facebook]