Another mobile payment service is launching today.
Facebook Pay is now official, with the goal of giving you a single payment method that works across Facebook, Messenger, Instagram, and WhatsApp. The service is launching this week in the U.S. across Facebook and Messenger, with support for Instagram and WhatsApp coming later on.
With Facebook Pay, you can make payments for things like fundraisers, in-game purchases, event tickets, purchases from select pages and businesses on Facebook Marketplace, and person-to-person payments in Messenger.
You have the option of setting a preferred payment method in Facebook Pay so that you don't have to re-enter your payment info every time you make a purchase. You can also choose to either set up Facebook Pay app by app, or you can set it up once and have Facebook Pay set up for use across apps.
Other features of Facebook Pay include the ability to view payment history, manage payment methods, update settings, and get real-time customer support using live chat.
To begin using Facebook Pay, go into the Settings section of the Facebook app or website and then select "Facebook Pay". You'll then be prompted to add a payment method. Facebook Pay supports most major credit and debit cards as well as PayPal, and payments are processed using companies like PayPal and Stripe.
Facebook says that it's built Facebook Pay to securely store and encrypt your card and bank account numbers. The service also performs anti-fraud monitoring to detect unauthorized activity and give you notifications for account activity. You can add a PIN or use device biometrics like a fingerprint reader or face scanner for added security when you're making a payment.
There's no shortage of mobile payment options out there, but with Facebook Pay, Facebook is hoping to create a single service that you can easily use across all of its apps. That way you don't have to enter your payment info or a login for a payment service every time you buy something on Facebook Marketplace or send money to a friend over Messenger. That convenience could make Facebook Pay appealing to folks who are heavily into the Facebook ecosystem.
