It's official: Facebook Pay, the blue social network payment system is realistic will arrive already this week. We want to stop you right away: Facebook Pay will initially be available US only, and we have no information on availability in our country.
Facebook Pay is a unified payment system in that sense will work on all Facebook applications (although it will not arrive immediately on all platforms): Facebook, Messenger, Instagram and WhatsApp. Absolute focus on security: the information exchanged will be at a minimum necessary.
on main functions on Facebook Pay are:
- it is possible to link payment systems and save so you don't have to enter data every time
- it is possible set up the Facebook Pay app in the app so you can embed different information into different appsor make sure Facebook Pay is common on all platforms
- all imports are in one place
- real-time customer support available in the US (arriving in other "future" countries)
- will clearly indicate which payment services are part of Facebook
With Facebook Pay you can donate funds, buy apps, buy event tickets and more pay individuals (as seen in the video posted by Facebook itself). It supports the most important credit and debit cards, and support is not lacking either PayPal.
If you are thinking about Libra, be sure: financial support is separated from Calibra's portfolio on which the Libra network will be implemented. Again for security purposes, every payment will be authenticated via PIN or biometric data. The latest data will not be saved from Facebook itself.
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but this does not mean that Facebook will not receive information about the way you use Pay: The company will collect "procurement information, such as payment method, delivery date, payment and contact information". These can be used to send targeted ads to the user and provide more efficient and effective support. Your card and current account information will not be used to personalize your experience.
Source: Facebook (1), Facebook (2)