Facebook has announced the launch of Facebook Pay in the US, a service that allows users to make payments over social media using WhatsApp, Instagram, Facebook and Facebook Messenger. Facebook is improving the shop, donate and send money features it already offers to allow users to pay for services and goods online, as well as pay friends via services such as WhatsApp and Messenger.
What is Facebook Pay?
Facebook Pay is a service integrated within the Facebook app that works in a similar way to PayPal and Apple Pay. Users will be able to purchase items and send money to friends easily when using the service. With Facebook Pay users can:
- add a preferred payment method that is stored and readily available when using Facebook Pay
- choose to set up Facebook Pay across multiple apps (or keep it to just one if you prefer)
- get real-time customer support via Live Chat
- view their payment history and manage payment methods in one place
How does Facebook Pay work?
Facebook Pay can be activated in the settings of Facebook and Messenger. Users can simply add a payment method and they are then ready to make a payment using Facebook Pay. Facebook Pay isn't yet available on WhatsApp and Instagram but once it is you will be able to set up the service in the same way.
Facebook says that Facebook Pay accepts most major credit and debit cards, as well as PayPal but is totally separate from its new digital currency Libra.
Is Facebook Pay safe?
Facebook says it does not store or receive your devices biometric information and is continually investing in security. It says Facebook Pay has been specifically designed to ensure that your payment information is kept secure by protecting it with encryption software. As well as this Facebook says regular anti-fraud monitoring will take place in order to detect any unauthorised activity on accounts. PIN numbers and face ID recognition will be used as an added layer of security when sending money or making payments and payment notifications will be sent once a payment has been completed to ensure users can monitor their account activity.
When is Facebook Pay launching in the UK?
Facebook Pay is only currently available in the US within Facebook and Facebook messenger however Facebook says it is hoping to launch in the UK at some point in the future.
We will update this article as soon as we have any more information.