Social media giant, Facebook, has entered the world of branded payments with their very own Facebook Pay feature. Going alongside other major tech companies’ payment systems including Apple Pay, Google Pay and Samsung Pay, Facebook now has their own payment service with a primary goal to make payments convenient, secure and consistent for its 2.45 billion users.
Unlike the other payment options mentioned above, Facebook Pay will be limited to Facebook’s own individual apps, including Facebook, Messenger, Instagram and Whatsapp. Many see this to be a benefit to the new payment service, as there are already so many debit card alternatives available today.
How Does it Work?
With the main purpose of Facebook Pay being ease of use, you simply visit the Settings section within the Facebook app to set up the service. You will be prompted to add your desired payment method and then your Facebook Pay is ready to go.
Upon completing the simple set-up, you will then be able to make the most of the Facebook Pay service by sending money directly to friends and family, paying for a product or service within Facebook Marketplace, and donate to charities in an instant. There are also options to pay for certain in-game features, which can make the whole social gaming process much more enjoyable.