Facebook has today announced the launch of its new payment platform known as Facebook Pay. With this, users can now make payments across Facebook and apps like Messenger, Instagram and WhatsApp.
The new payment solution is currently rolling out in the US and there is no information on when it will be available in other regions including India. The company says that with Facebook Pay users can make payments, in-game purchases, event tickets, person-to-person payments on Messenger and make purchases from select Pages and business on Facebook Marketplace.
The new payment solution supports major credit and debit cards as well as PayPal and Stripe. In order to use the latest payment service, users need to go to the Facebook website or App and select Settings. There, users will find the option of Facebook Pay and select a payment method. One can also set up a PIN or use their device Biometrics to authenticate for the payment.It has also revealed that Facebook does not receive or store your device’s biometric information.
The company claims that Facebook Pay is designed to perform anti-fraud monitoring, which simply means that it will detect unauthorised activity and provide notifications for account activity. The brand further reveals that users can check the payment and transaction history within the Facebook Pay option and it will not be shared with friends or on the feed unless a user chooses to do so. Facebook has also clarified that the new service is separate from the bitcoin-based Calibra wallet, which runs on the Libra network.