Facebook is launching a new pay service called Facebook Pay. The service will provide people with a convenient, secure and consistent payment experience across Facebook, Messenger, 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 It Works
You can start using Facebook Pay on Facebook or Messenger with just a 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, you’ll be able to set it up directly within each app.
Facebook Pay Security
Facebook Pay is designed to securely store and encrypt card and bank account numbers, perform anti-fraud monitoring on the platform’s systems to detect unauthorized activity and provide notifications for account activity.
Facebook Pay is now available in the U.S. and more information is available at pay.facebook.com.
What do you think about this new payment service from Facebook?