A new type of payment system has been launched by Facebook called Facebook Pay that will work on its own App along with WhatsApp, Messenger and Instagram. Facebook Pay will facilitate payments across each of Facebook’s social networks and Apps.
According to the company, these are the main highlights of Facebook Pay:
– Add your preferred payment method once then use Facebook Pay where available to make payments and purchases on our apps, instead of having to re-enter your payment information each time
– Set up Facebook Pay app-by-app, or choose to set it up for use across apps (where available) — that means we won’t automatically set up Facebook Pay across the apps you are active on, unless you choose to do so
– View payment history, manage payment methods and update your settings in one place
– Get real-time customer support via live chat in the US (and in more places around the world in the future)
– Clearly understand which payment services are part of Facebook
The company will be rolling out Facebook Pay to Facebook and Messenger this week in the US and gradually extend this payment service to more people and places including Instagram and WhatsApp. For the US users, Facebook Pay will be available for person-to-person payments, fundraisers, event tickets, in-game purchases and purchases from businesses that operate on Facebook’s Marketplace.
You will be able to access Facebook Pay under the settings of the Facebook/Messenger App. For payments, it will be making use of PayPal, Stripe among other payment services and will also support most of the debit and credit cards.