Facebook launched its new payment service called Facebook Pay in the United States, following WeChat steps. The payment service will allow you to pay people and businesses by utilizing Facebook Messenger, WhatsApp, or Instagram.
Facebook Pay just weeks after payment companies dropped out of Libra.
Facebook said the service will soon roll out on Instagram and WhatsApp without knowing the exact timeline.
How does Facebook Pay work
- Go to “Settings” > “Facebook Pay” on the Facebook app or website
- Add a payment method
- The next time you make a payment, use Facebook Pay
The service will be available in the settings section of Facebook or Messenger apps. You can add your debit or credit card to Facebook Pay and choose if you want it available in certain apps or all Facebook apps (Messenger, WhatsApp, Instagram).
At the start, the service will be available on the Facebook App and Messenger to pay for fundraisers, in-game purchases, event tickets, person-to-person payments. Facebook is using Stripe, PayPal, and others to process these payments.
“Over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp,” explains Deborah Liu, Facebook’s vice president of marketplace and commerce.
In the United States, Facebook Pay will compete with some of the big names in the industry such as Square, Venmo, Samsung Pay, Google Pay, and Apple Pay. Facebook is expected to put its huge userbase to make this project a success. Will users get comfortable using Facebook Pay considering the company’s history in handling personal data.
In retrospect, people might want to use it to purchase goods directly from Instagram or send money to family members or friends on WhatsApp.