People already use Payments across Facebook apps to shop, donate to causes and send money to each other. Facebook Pay will make these transactions easier while continuing to ensure the user’s payment information is secure and protected.
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.
The tech giant plans to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp.
Facebook Pay supports most major credit and debit cards as well as PayPal. Payments are processed in partnership with companies like PayPal, Stripe and others around the world.
Facebook Pay is built on existing financial infrastructure and partnerships, and is separate from the Calibra wallet which will run on the Libra network.
How does Facebook Pay work?
To start using Facebook Pay on Facebook or Messenger one nedds for just some few taps:
1.- Go to “Settings” > “Facebook Pay” on the Facebook app or website
2.- Add a payment method
3.- The next time you make a payment, use Facebook Pay
Once Facebook Pay is available on WhatsApp and Instagram, users will be able to set it up directly within each app.
With Facebook Pay users can:
1.- Add their preferred payment method once then use Facebook Pay where available to make payments and purchases on our apps, instead of having to re-enter your payment information each time
2.- Set up Facebook Pay app-by-app, or choose to set it up for use across apps (where available). That means Facebook won’t automatically set up Facebook Pay across the apps ythe user is active on, unless he/she chooses to do so.
3.- View payment history, manage payment methods and update your settings in one place.
4.- Get real-time customer support via live chat in the US (and in more places around the world in the future).
5.- Clearly understand which payment services are part of Facebook
Secure payments
Facebook Pay, assures Facebook, has been designed to securely store and encrypt the users’ card and bank account numbers, perform anti-fraud monitoring on Facebook systems to detect unauthorized activity and provide notifications for account activity.
People can also add a PIN or use their device biometrics, such as touch or face ID recognition, for an extra layer of security when sending money or making a payment. Facebook does not receive or store the biometric information from ther device of the users.
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