Facebook on Tuesday announced the launch of its payments service, Facebook Pay, in the US. The service has already started rolling out on Facebook and Messenger in the US, and the company says that it plans to roll it out to more markets in the months ahead. The service will also be available on WhatsApp and Instagram going forward, said the company.
In an official blog post, Facebook said that its payments service will provide people with a “convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp”. According to the social media giant, Facebook Pay will make online transactions easier “while continuing to ensure your payment information is secure and protected”.
Right now, it is already operational for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger, while on the main Facebook app, it can be used for purchases from select Pages and businesses on Facebook Marketplace. Folks in the US can start using Facebook Pay on Facebook or Messenger by going over to the ‘Settings’ menu > tapping on the ‘Facebook Pay’ option > and choosing a payment method, which includes most major credit and debit cards as well as PayPal.
Following Google, Apple, Samsung and other tech majors, Facebook is also throwing its hat in the online payments ring with the introduction of its own payments service, but given all the privacy and security concerns people have with the company, it will be interesting to see how many users will be able to trust it with their financial information.