Social networking giant Facebook is releasing its payment service called, ‘Facebook Pay’. The payment app will work not only on the Facebook app, but also across the Messenger, Instagram, and WhatsApp.
“Facebook Pay will begin rolling out on Facebook and Messenger this week in the US for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and businesses on Facebook Marketplace. And over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp,” said Deborah Liu, VP, Marketplace & Commerce in a blog post.
With the launch of Facebook Pay the company is aiming to provide a secure platform to the users to make online payments across all platforms.
The payment app allows the user to set his preferred payment method once then it can be used places to make transactions where Facebook Pay is available. With Facebook Pay, users can choose or pick the apps where they want to use the payment app.
“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,” said Deborah in the post.
Considering the importance of security on the online platform, the company claims that the app is designed to securely store and encrypt users’ data.
“With Facebook Pay, we’re continuing to invest in security. 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,” said Deborah.
To begin using Facebook Pay, users can Go to “Settings” and search for “Facebook Pay” on the Facebook app or website. The second step is to add their suited payment method and users are set to use it on their next purchase.
Facebook Pay is completely different from Calibra wallet which will run on Facebook’s digital Libra network, and is built on top of existing financial infrastructure.
(With input from agencies)