20 December 2019
Facebook Pay is the latest mobile payment solution to go official in the United States. It is aimed at unifying and simplifying making payments across all Facebook apps including the ones owned by it. It means it is a single payment solution for Facebook, Facebook Messenger, WhatsApp, and Instagram.
One good thing is that Facebook is not releasing Facebook Pay as a separate app. It will be accessible from within the apps it will be compatible with. It has currently been announced only for Facebook and Messenger users residing in the United States. It can be used by visiting app settings where you will see a new Facebook Pay option. The next step is to choose a payment method that can be any credit/debit card or PayPal.
Once the setup process is complete, it can be used for making payments to fundraisers, in-game purchases, person-to-person payments, event tickets, and purchases from select Facebook Pages and businesses. It should be noted that the ability to transfer money to another individual is available only via Messenger.
Since Facebook usually finds itself surrounded by privacy-related issues, it has clarified that Facebook Pay will need to be set up manually on a per-app basis. It means there is no auto-setup option so that users can make an informed decision. The payment service will further offer a complete record of all past transactions which can be checked anytime.
Facebook Pay is available only for Facebook and Messenger apps for now. The team has plans to bring it to WhatsApp and Instagram as well as go for international rollout but no concrete timeline has been offered yet.