Facebook today introduced the Facebook Pay payment system, which will be used to pay via Facebook, Messenger, Instagram and WhatsApp.
Let’s figure out what kind of service it is and how it will work.
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Facebook Pay – what it is and how it works
Facebook Pay will only be available in the US for now. It can be used to transfer money to friends, pay for goods in the Marketplace and tickets for events, collect and make donations, and make purchases in games and in-app apps.
With Facebook Pay, you can:
- Add your preferred payment method and then use Facebook Pay to make payments and purchases in our apps, instead of re-entering your payment information each time.
- View payment history and manage payment methods.
- Get live chat support in the US (and worldwide in the future).
This week Facebook Pay will start working on Facebook and Messenger in the US, and over time, the new service will start working on Instagram and WhatsApp.
Facebook Pay supports debit and credit card linking as well as PayPal. To process payments, the system uses PayPal, Stripe and other partner companies around the world. The company noted that Facebook Pay will develop separately from the Calibra wallet for the Libra cryptocurrency.
How to set up Facebook Pay
To start using Facebook Pay on Facebook or Messenger:
- Go to “Settings” – “Facebook Pay” in the Facebook app or website.
- Click Add Payment Method.
- Next time you buy, use Facebook Pay
Once Facebook Pay is available on WhatsApp and Instagram, you can set it up on each app separately.
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