Yeah, you heard right, Facebook just launched his own payment gateway i.e. Facebook Pay which will provide a secure and consistent payment service across Facebook Messenger, Instagram and on WhatsApp.
With FB Pay, the transactions will much easier across all apps to shop. One of the best thing about Facebook Pay is that you don’t need to download any other app for this service. You can easily start Facebook Pay on existing Facebook/Messenger app by logging into Facebook and navigate to Settings -> Facebook Pay (Access from either Facebook App or Website).
Facebook Pay not only supports major credit/debit cards (VISA, MASTER CARD etc) but also supports one of the most popular international online payment service i.e. PayPal.
You can also easily manage your all payment history which can further accessed from multiple apps.
About Security –
As you already know that, Facebook processed more than $2 billion in donations alone when they launched their first fundraising tools in year 2015.
As in initial stage, they started this service in a small set of countries with the intention to attract more and more people over time.
Here is the list of some bullet points which Facebook implemented in view of Security and Privacy.
- Use of Anti-fraud technology monitors for detection of unauthorized activities.
- Advanced data storage and encryption for payment card and bank account details.
- Notifications and Alerts for unusual activities
- You can also add a PIN or use your device biometrics for added security when sending money or making a payment. Facebook does not receive or store your device’s biometric information.
In case, if you found any unauthorized activity or transaction, their customer support is always ready to help.
For more info, please visit pay.facebook.com.