Facebook has unveiled Facebook Pay, a solution that will allow users to make payments across its suite of apps.
Unlike contactless payment solutions such as Samsung Pay, Facebook Pay is restricted to purchases within the Facebook app ecosystem. This means you’ll be able to use Facebook Pay to donate to a fundraiser your mate told you about on Messenger.
“Facebook Pay will begin rolling out on Facebook and Messenger this week in the US for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and businesses on Facebook Marketplace. And over time, we plan to bring Facebook Pay to more people and places, including for use across Instagram and WhatsApp,” Facebook’s vice president of Marketplace and Commerce, Deborah Liu, said in a press release.
The payment solution supports most major credit and debit cards as well as PayPal. Payments are processed by firms such as PayPal, Stripe and other similar providers around the world.
“We designed Facebook Pay to securely store and encrypt your card and bank account numbers, perform anti-fraud monitoring on our systems to detect unauthorized activity and provide notifications for account activity. You can also add a PIN or use your device biometrics, such as touch or face ID recognition, for an extra layer of security when sending money or making a payment,” Liu wrote.
The firm said it does not receive nor does it store your biometric data.
There is no word on whether Facebook Pay will be available in other parts of the world or indeed a timeline of when we can expect that to happen.
It’s also not clear when other apps will be corralled into Facebook Pay.