Facebook has recently rolled out its new Payment service “Facebook Pay”. At the moment Facebook Pay Service is only available in United States. It may take some time for Facebook to introduce Facebook Pay Service globally.
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What is Facebook Pay ?
Facebook Pay is secured and effortless way to buy a product or send money to friends. Facebook Pay Service is available on the Apps & websites owned by Facebook i.e. Instagram,Whatsapp, Facebook & Messenger.
Google Pay & Amazon Pay are similar Payment services from leading tech companies in the world and now Facebook is eyeing on this particular sector. With its huge user base across all platforms i.e. Facebook, Instagram,Whatsapp it may not be tough task for Facebook Company to get prominent market share in this industry.
Chatting with friends On Facebook Messenger is a usual chore. Apart from chatting you can use FB Messenger for transactions through Facebook Pay. Sending and receiving funds using FB pay is very simple.
If you spend umpteen amount of time on Facebook, then Facebook Pay would be very appropriate for you to send and receive money online.
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Why Should we Use Facebook Pay?
Aforementioned in the above paragraph, Facebook Pay is safeguarded way to transfer funds and buy products online on market place related to Facebook.
- While Scrolling down the posts on Facebook, if you have seen a intriguing offer which you could not leave without buying, You can simply buy it on the same platform using Facebook Pay.
- With one finger tap, you can facile send or receive money from your friends.
- Donating to fundraisers on Facebook & instagram would be more convenient with Facebook pay.
- You can buy Even Tickets & Games from Market place .
On Whatsapp you can send or receive money from your friends.
On FB Messenger you can do transactions akin to Whatsapp.
On Instagram you can send money, buy products & donate dollars to Fundraisers.
Is it Safe to do Payments with Facebook Pay ?
Techie giantFacebook Users advanced technology to safeguard your account & Payment information.
If any unauthorised exercise was done with your FB Pay account, their Anti Fraud technology automatically detects it and you will get notifications on the same.
Your Payment information, Bank Details & Card Details are encrypted and stored in a secured vault.
You can give extra layer of security to Facebook Pay Account from your side by adding PIN or using your Device biometrics. Facebook Guaranties that they would not store your device biometric information or PIN Number.
How to Use Facebook Pay to Send & Receive Money?
Fret not , using Facebook Pay is as simple as chatting on Messenger.
Before requesting or paying money to your friend, first you have to add your payment method i.e may be credit card, debit card or paypal account.
Now begin the conversation with the person with whom you want to send money.
Tap on the four dotted menu to see, the Pay Friend Option.
Tap on Pay Friend Option and Choose Request option if you are expecting money from your friend or Choose PAY option if you are going to send money.
Is it compulsory to have Facebook Account to use Facebook Pay ?
No. But at present Facebook pay is only available on Facebook & messenger. So you must have FB Account o use Facebook pay. Once they start rolling out Facebook pay on Whatsapp & Instagram, you need not have Facebook account to use Facebook account. You can simply set up Facebook Pay on each app individually.
Conclusion:
Facebook Pay is going to be the next big Payment service. As of now Facebook Pay is only for US Customers & the service is available only on Facebook & messenger. Very soon they are going to launch Facebook pay on Whatsapp & Instagram and eventually they are planning to roll out the payment service in other countries.
Any queries or suggestions please do let us know in the comments section.