Social media giant Facebook has introduced Facebook Pay, a new payments interface, which will allow users a convenient and secure payment experience across Facebook, Messenger, Instagram and WhatsApp.
Many users across Facebook already make payments to shop, donate to causes and send money to each other. Facebook Pay is designed to make these transactions simpler while at the same time protects your payment information. You no longer need to re-enter your payment information each time make payments and purchases on Facebook apps.
You can either set up Facebook Pay per app basis or choose to set it up for use across multiple apps (where Facebook Pay is available). Consumers will be able to view payment history, manage payment methods and update your settings – all in one place. The feature is currently launched in the US and will be rolled out to more places around the world in the future.
According to Facebook, the 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.
Head over to the ‘Settings’ > ‘Facebook Pay’ on the Facebook app or website. The tap on add a payment method and the next time you make a payment, use Facebook Pay.
Once Facebook Pay is available on WhatsApp and Instagram, you’ll be able to set it up directly within each app.
Facebook Pay is compatible with most major credit and debit cards as well as PayPal. Payments are processed in partnership with companies like PayPal, Stripe, etc.
‘We designed Facebook Pay to securely store and encrypt your card and bank account numbers, perform anti-fraud monitoring on our systems to detect unauthorized activity and provide notifications for account activity. You can also add a PIN or use your 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 your device’s biometric information,’ said Facebook in a blog post.