facebook pay

On November 12, 2019, Facebook launched its new online payment service named as Facebook Pay. It is still limited to the USA only. Users are able to use this service to pay other people, buy things in-store and have all the features and normal kinds of stuff that other online payments service providers. Users can use this service not just only on Facebook but in Messenger, WhatsApp and Instagram also. However, this service will not use “Libra” cryptocurrency and is not associated with the “Calibra” wallet that runs on Libra network but instead will use USD for payments. Libra has currently been halted by Congress in order to maintain its stability in USD currency.

How does Facebook Pay work?

Users can use this online payment service with just a few taps on Facebook, Messenger, Instagram, and WhatsApp. There will be a Facebook Pay option added or integrated into a setting section of each app and all users will have to do is click the option, connect their PayPal account or add their credit or debit card and use it while paying. Facebook has teamed with PayPal in order to process payments.

facebook pay

The payments will all be paid in $USD, not in Facebook’s own currency “Libra”, but Facebook is planning to run the Libra network on Calibra wallet. Facebook Pay is introduced to make commerce more accessible, secure, reliable and convenient for people who use Facebook, Messenger, Instagram, and WhatsApp.

For what things Facebook Pay can be used for?

From Facebook Pay, users can make payments and purchase within the app or outside of the app which makes it not necessary to re-enter users’ payment information each time. Users will be able to transfer the amount of money they have to each other. Users also can donate directly to different companies or organizations that are working to raise funds.

Users can also see all the payment history, manage payment methods and update settings as per wish. Users will be able to buy and pay in a really convenient and easy way. Facebook will also be adding new features to Facebook Pay as the time passes keeping the audience’s feedback at mind.

What about security and protection?

When it comes to security and protection, users feel a bit insecure on Facebook’s platform because Facebook always is accused and criticized when it comes to track records, personal data, and privacy. The company has been working really hard and doing all the things they can to erase this thought on people’s and USA’s government minds and create a good reputation to make Facebook Pay a success.

Facebook has invested good money on Facebook Pay’s security. Facebook Pay will securely store all the cards and bank account numbers by encrypting it. Facebook Pay will also perform “Anti-fraud monitoring” to detect unauthorized activity and will also provide notifications for account activity. Users can also add a PIN or use device security such as Face ID, Touch ID or an extra layer of security while sending money or making payment and the good news is Facebook won’t be storing or receiving any of your biometric information. Learn more about Facebook Pay privacy.

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