Facebook unveils Facebook Pay for easier payments across multiple platforms
Facebook announced a new integration on Tuesday called Facebook Pay, which will provide users a consistent and secure payments experience across its ecosystem of social media sites and apps, including Messenger, Instagram and WhatsApp, in a blogpost by Deborah Liu, vice president marketplace and commerce.
Facebook Pay will allow users to add their preferred payment method once and then use Facebook Pay across the various platforms, rather than having to reenter information each time.
Users can view payment history, manage payment methods and update settings all in the same place. Real-time customer support is available through a chat function.
The new payments platform will roll out this week in the U.S. for fundraisers, in-game purchases, event tickets and P2P payments on Messenger and purchases from select pages and businesses on Facebook Marketplace. It will expand over time to additional people and places as well as Instagram and WhatsApp, the company said.
Facebook Pay will support most debit and credit cards as well as PayPal. Payments will be processed in partnership with firms like Stripe, PayPal and other platforms.
Facebook made clear that Facebook Pay is not connected to its proposed Libra cryptocurrency project. The company said card numbers and bank account information are securely stored, and it actively monitors the system with anti-fraud tools. Customers can add extra security layers like PIN codes or use biometric information like touch or FaceID for added protection.
The social media giant said it has processed more than $2 billion in fundraising since it first launched fundraising tools in 2015.
Cover image: Facebook