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How to Send and Receive Money using Facebook Pay

Recently, Facebook announced the launching of a new payment service called Facebook Pay; for WhatsApp, Facebook, and Messenger. The company, which is owned by Mark Zuckerberg, aims to make the transaction in business more hassle-free and also get rid of calls to break up the companies they owned.

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Although Facebook permits users to send money through the Messenger App initially, this is a different game entirely, as it will rival PayPal. The social media giant also makes it clear that Facebook Pay is distinct from its bitcoin-based Calibra Wallet, which runs on the Libra network.

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What is Facebook Pay?

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Have you always wanted to pay for products and services on WhatsApp, Facebook, and Messenger? The search for a convenient, secure, and consistent payment solution for all Facebook-owned services is over with the advent of Facebook Pay.

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Facebook Pay is an integrated payment solution for all Facebook-owned services such as WhatsApp, Messenger, and so on.

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The beauty of the payment solution is that; adding a payment solution on one platform will automatically sync it across other platforms too. Aside from that, users don’t need to re-input their payment information for every purchase.

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Companies such as PayPal, Stripe, and much more globally was partnered with to process payments. Users can use the payment solution to send money to friends, shop for goods and services, Fundraising, and many more. The main aim of launching it is to ease marketplace transactions on Facebook-owned platforms.

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Where is Facebook Pay Available?

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Do your customers always complain about bank charges when paying for your product? Although Facebook Pay is only available in the US. Soon, it will be extended to countries all over the globe. However, it will take a while; thus, patience is needed from the users in other countries. Users in the US can now pay for their friend’s dinner, in-game purchases, event tickets, and so on. You can check this guide on for more information.

 

Unique features of Facebook Pay

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It’s a known fact that Facebook has provided a reliable payment experience since 2007. There is no need to think about the safety of your card as every detail will be stored securely, and the card and bank account details will be encrypted. Aside from that, anti-fraud monitoring will be performed to discover any illegal activity and also alert users with notification about account activity. By investing in security, users will be able to add their pin or utilize their device biometrics like Fingerprint or Face ID recognition for an additional layer of protection while transferring money or making a payment.

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Also Read: How To Recover Disabled Facebook Account

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Since the users are the company’s main priority, there is real-time customer support via live chat for the users; its available between 6:00 AM and 6:00 PM (PST). Additionally, the payment history can be viewed, payment methods can be managed, and settings can be updated in a single place. Privacy is also not an issue because users’users’ payment and transaction history within Facebook Payment can be viewed only by them, and it will not be shared with friends or on the feed.

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Users can also set up Facebook-Pay app-by-app, which means you can personally select to set it up on all apps instead of Facebook automatically choosing it for you. Just like other competitors’ payment solution, FB Pay to support all major credit/debit cards, and PayPal. This means there is no need to apply for a virtual card to purchase goods and services. Additionally, users will have an idea of payment services that are part of Facebook.

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How to use Facebook Pay

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To start using Facebook Pay on WhatsApp, Facebook, and Messenger, you need to take the following steps. These entail:

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  • Search for settings on your Facebook, Messenger, and WhatsApp app then click on Facebook Pay

  • After that, you need to add a payment method. Whether its credit/debit card or PayPal that you prefer.

  • The ease at which it works will make you use Facebook Pay the next time you want to make a payment.

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Will Facebook Charge a fee for payments?

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Are you scared that the fee charged by Facebook will be expensive? Fear not, as Facebook will not charge a fee from users for sending and receiving money via Messenger. Although, in a situation where there is rejected payment due to reversal charges or insufficient funds, users may be subjected to fees from third parties.

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Are there any restrictions on sending or receiving funds on Messenger?

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Users that are under the age of 18 will not be permitted to use the peer-to-peer (P2P) payments service on Messenger. In case there are barred transactions on the user’s account, and the payment services will be discontinued.

 

Importance of Facebook Pay

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If it is crossing your mind since that; what do you stand to gain from using Facebook Pay? Well, the answer is right here. First and foremost, it will make transactions easier while also protecting your payment information. Aside from that, users can be able to reach a more targeted audience through ads, and even more, sales will be made when more people know about your business. Additionally, startups don’t have enough money to set up online.

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By utilizing the payment service, you will also get to see more critical content and ads. For instance, if you purchase a phone on Facebook Marketplace through Facebook Pay, you will begin to get announcements of telephones and related accessories. The company also has something to gain as it’s moving towards achieving the goal of linking its social platforms together as such users can make the payment without exiting the app.

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Overview

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Facebook Pay was created to aid users’users’ businesses to increase and empower users to buy and sell things online. Buying and selling products on its platforms will be hassle-free from now on. Make use of Facebook Pay and shop easily. The features, as mentioned above and importance, will give you an overview of what Facebook Pay, which was recently launched for WhatsApp, Facebook, and Messenger entail.

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