Libra is coming or not, but social media giant Facebook has other plans to reach the payments world. Today, the company unveiled Facebook Pay, it’s own platform to make purchases and money transfers simplified. After one easy setup users will be able to make payments across Facebook, Messenger, Instagram, and WhatsApp.
It’s as easy as any other payment app you use to make payments or transfer money but Facebook Pay allows you to make payments from the app itself how to make payments mentioned in the video here.
How It Works:
You can start using Facebook Pay on Facebook or Messenger with just a few taps:
- Go to “Settings” > “Facebook Pay” on the Facebook app or website
- Add a payment method
- The next time you make a payment, use Facebook Pay
Security and Privacy:
According to the company ” We designed Facebook Pay to securely store and encrypt your card and bank account numbers, perform anti-fraud monitoring on our systems to detect unauthorized activity and provide notifications for account activity. You can also add a PIN or use your device biometrics, such as touch or face ID recognition, for an extra layer of security when sending money or making a payment. Facebook does not receive or store your device’s biometric information.”
Facebook App and Facebook Messenger will support Facebook Pay in the US from this week, and the availability for Instagram, WhatsApp, and more countries will be announced soon.
Facebook Pay is a separate platform from the Calibra wallet used to handle Libra cryptocurrency said Facebook.