Facebook has officially launched its new Payment Service in US called Facebook Pay. It will offer convenient, secure and consistent payment experience across all its platforms including Facebook, Messenger, Instagram and WhatsApp.
Facebook Pay will be available at Facebook and Messenger later this week in United States. It can be used for fund raisers, in-game purchases, event tickets and person-to-person payments on messenger. Additionally, users can also use Facebook Pay to make purchases at select Pages and Businesses on Facebook Marketplace. With time, Social networking giant also aims to bring its payment facility to more people and places.
Facebook has been offering trusted payment experience since 2007 and has processed more than $2 billion in donations since it first launch its fundraising tool in 2015.
The Facebook Pay securely stores and encrypts your bank card and bank account number. It has Anti-fraud monitoring on its systems for detecting unauthorized activity. Users can add device biometrics or pin or touch or face ID recognition for extra layer of security.
How to use Facebook Pay and its key features
- Go to “Settings” > “Facebook Pay” on the Facebook app or website
- Add your preferred payment method once then use Facebook Pay where available to make payments and purchases on Facebook apps, instead of having to re-enter your payment information each time
- Set up Facebook Pay app-by-app, or choose to set it up for use across apps (where available) — that means we won’t automatically set up Facebook Pay across the apps you are active on, unless you choose to do so
- Users can View payment history, manage payment methods and update your settings in one place
- Get real-time customer support via live chat in the US (and in more places around the world in the future)
- Clearly understand which payment services are part of Facebook
Notably, Facebook Pay supports most of major credit and debit cards as well as PayPal. Payments are processed in partnership with companies like PayPal, Stripe and others across the world.