Facebook has just announced the launch of Facebook Pay, its new payment method that allows a “secure and consistent” experience on all its platforms: both on the social network and on WhatsApp, Instagram and Messenger.
It is a way of simplifying users to carry out economic transactions on all these platforms. At present, they can pay to buy products on Facebook or Instagram, they can make donations to charitable causes, they can send money to each other, but every time they perform these actions they have to enter their bank details.
However, if they are registered in Facebook Pay, they can carry out all these transactions in a single click. The company, of course, retains the financial data of users, but ensures that they are always safe and secure.
Facebook Pay is launched today only in the United States, although the company has confirmed that it will reach more markets soon. Initially, this week will apply to financial donation through Facebook and Messenger, in-game purchases, ticket purchases for events and money transfers in Messenger, as well as Facebook Marketplace and purchases in certain Corporate pages, not all. In the coming weeks it will also reach Instagram and WhatsApp, as Facebook has confirmed in its official blog.
How to use Facebook Pay
To start using Facebook Pay, users just have to access their profile settings on Facebook or Messenger and select the “Facebook Pay” option and include their favorite payment method, which will be used each time they use Facebook Pay. Facebook Pay supports both most credit and debit cards, as well as payments through PayPal and Stripe.
The user can choose in which applications to pay with Facebook Pay or if he wants it to apply to all of them. In addition, in Facebook Pay you will have access to your payment history, manage your preferences, add new payment methods.
Facebook also provides support to Facebook Pay users in the United States through a live chat with company agents, although it has explicitly assured that it will soon be in other parts of the world, so the arrival of Facebook Pay to other markets seems imminent.
At the moment, Facebook Pay has no connection with Libra, Facebook’s cryptocurrency , or with the Calibra virtual wallet. However, the company has already indicated that it will work to integrate more payment methods and make the Facebook Pay experience more valuable, which could imply some kind of interoperability with its virtual currency system in the future.
As a curiosity, it is worth mentioning that the Facebook Pay logo already follows the new visual line released by Facebook a week ago. The company changed its logo to differentiate itself from the social network.