Facebook Pay is a seamless and secure way to make payments on Facebook, Instagram, Messenger, and WhatsApp. You enter your payment account information once and then use Facebook Pay across the apps (Instagam and WhatsApp to follow soon). Facebook Pay supports most major credit and debit cards as well as PayPal (this information is not shared with buyers or sellers and is stored securely from your data account). Payments are processed in partnership with companies like PayPal, Stripe and others around the world. There will be no charge from Facebook to make payments only the normal third party charges.This opens up a whole new world for social media and how we by and sell things
How do you set up Facebook Pay?
From your News Feed, click ▼in the top right.
Select Settings then click Facebook Pay from the left.
From here you can:
add a payment https://www.facebook.com/help/389356905082923,
How secure is it?
Facebook has added additional security by creating a security pin. Whenever you want to make a purchase or book tickets you will be prompted to enter a pin number. Anti-fraud technology has been installed to monitor purchases to help detect unauthorised activity.
You can use Facebook Pay to:
Send money to a friend https://secure.facebook.com/help/919479321397007?helpref=about_content
Purchase games and make in-app purchases https://secure.facebook.com/help/248471068848455?helpref=about_content
Make donations to a charity or personal fundraiser https://secure.facebook.com/help/1409509059114623?helpref=about_content
If you purchase a subscription to an app or a feature within an app, Facebook will bill your payment method at the beginning of each subscription period. To stop recurring payments, you will have to cancel the said subscription
Are there any restrictions on sending and receiving funds on Messenger?
If you are under the age of 18, you will not be able to use the peer-to-peer (P2P) payments service on Messenger. P2P is also not to be used for business, commercial, or merchant transactions. Facebook says it will discontinue payment services if it notices such prohibited transactions.
Can I review payment history?
Yes, you will be able to review your payment history through the apps that support Facebook Pay. Users will be able to view transaction ID, status and payment method details of older payments at all times.
Can Facebook payments be reversed?
No, you can’t cancel money after you send it in a message. Ask them to decline the money if they haven't linked a debit card or PayPal account to their account yet. If the payment isn't accepted after 7 days, it'll be automatically cancelled.