Facebook introduced Facebook Pay – a single payment system for WhatsApp, Instagram and Messenger. Through it, users will be able to shop within services and transfer money. This is stated on the corporate website of Facebook.
Starting November 12, Facebook Pay began to be launched in the USA in the Facebook and Messenger applications; launch dates in other countries are unknown. Using the platform, Instagram, WhatsApp and Messenger users will be able to buy goods and services, and entrepreneurs will receive money.
The Facebook website also says that Facebook Pay can be configured separately for each of the applications or included everywhere immediately, if available. The company does not automatically activate the system – users will have to do this manually.
Among the declared functions of Facebook Pay are payments and transfers within Facebook applications and services, viewing payment history, real-time support via chat in the USA and “clear understanding” of which services are part of Facebook.
The payment system will work inside the Facebook application and other services of the company. To use it, it will be enough to select the appropriate item in the settings menu and add a payment method.
Facebook Pay supports most credit and debit cards, as well as PayPal. The payment system uses the processing of PayPal and Stripe, as well as other companies around the world.
Facebook emphasized that the service is built on the basis of existing financial institutions and partnerships. Facebook Pay is not affiliated with the Calibra wallet and the Libra cryptocurrency, which is having trouble launching in the US and around the world.
The company promised that the payments will be safe: bank card information and account numbers will be stored in encrypted form, and the system will provide antifraud monitoring to prevent fraud. Users can also add a pin code or use biometric sensors on smartphones when making payments.
As recalled on Facebook, the social network has been accepting payments since 2007. During this time, she processed only donations of $ 2 billion.