Facebook Pay finally arrives and all you need to know about it

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The routine and the follow up are continuing still with all tech giants which is payment integration.

Getting their own payment system followed by Google and Apple, Facebook comes up with its own payment system called ” Facebook Pay “.

According to the Facebook blog update, the main aim is to make the payments easier across all its platforms – Messenger, WhatsApp and Instagram.

However, we know that WhatsApp is also coming up with the payment system by the year-end.

Still, it is unclear that, Facebook Pay will come to India or not and that can be known after a while.

Even both Facebook Pay and WhatsApp Pay are not sure whether they will be introduced or not.

How to use Facebook Pay

However, users don’t need to download extra applications to use Facebook Pay and it will come integrated with the normal Facebook Application.

The company will not charge anything from you to send or receive money from the users.

Follow these simple steps to use Facebook Pay

No, every user will get these features, if you’re eligible, follow these steps to use it.

  1. Navigate to Facebook Application and tap on settings.
  2. There you will get the option to ” Facebook Pay “.
  3. Later, select the payment method.
  4. However, you can use your debit cards and credit cards along with other payments platform such as PayPal.

How Secure is Facebook Pay

For security, users need to add a PIN or biometric for authentication for extra later protection.

Users below 18 will not be eligible for the use of the payment service of Facebook.

Facebook does not receive or store your device’s biometric information,” the blog says.

Facebook will monitor to detect unauthorized transactions and also to perform anti-fraud attempts to safeguard user financial information.

Along with that, users will be able to check their transactional history and it won’t be shared among friends and relatives.

Where to use Facebook pay

People usually sell products on the platform and Facebook has its own marketplace and Instagram comes with the shopping feature.

With those features, Facebook Pay will be used for fundraisers, donations, in-game purchases, event tickets, to pay friends on Messenger, and purchases from “select Pages and businesses” on Facebook Marketplaces.

Privacy

Facebook will collect information like…

  • Transaction date
  • Billing
  • Shopping
  • Contact details.

This information will be collected to display relative advertisements to give more exposure to Advertisers.