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Fri, 13 Dec 2019

Northeast Today

Facebook launches new payment system for users, coming soon to Instagram and WhatsApp

Facebook launches new payment system for users, coming soon to Instagram and WhatsApp
November 14
14:30 2019

NET Bureau

Social networking giant Facebook has launched its own payments system called Facebook Pay. This new payment system will be available on popular Facebook-owned apps including Facebook, Messenger, Instagram and WhatsApp.

The company has said that Facebook Pay will begin rolling out first 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. The firm will later roll out Facebook Pay to more people and places, including for use across Instagram and WhatsApp.

Facebook has clarified that the new service will be independent of Facebook’s new Calibra wallet and the Libra network, and it’s “built on existing financial infrastructure and partnerships.” For security, Facebook claims that it will give an option to its users add a PIN or use the device’s biometrics, such as touch or face ID recognition, “for an extra layer of security when sending money or making a payment.”
In order to use Facebook Pay on Facebook or Messenger, here is what you need to do:

1. Go to “Settings” > “Facebook Pay” on the Facebook app or website
2. Add a payment method
3. The next time you make a payment, use Facebook Pay

Facebook says that when the payment gateway is launched for WhatsApp and Instagram, users will be able to set it up directly within each app.
The Mark Zuckerberg-led social networking giant has said that most major credit and debit cards as well as PayPal are supported on the platform.
“People already use payments across our apps to shop, donate to causes and send money to each other. Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected,” said Deborah Liu, Facebook’s vice president of marketplace and commerce.

Source: Gadgetsnow

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