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Facebook Pay, how the new social payment system works

From now on the apps of the Mark Zuckerberg galaxy it will be possible to make digital payments: in fact Facebook is born Pay , the new platform that allows all users of Facebook, Messenger, Instagram and Whatsapp to make payments in comfort and security. And even to send money to your contacts.

The Menlo Park company, for the moment, has launched Facebook Pay exclusively in the US market and only for Messenger and Facebook. But soon – even if a date has not yet been set – it will be possible to make digital payments also via Instagram and Whatsapp. And then also in countries outside the United States, such as the Italy.

How the new system works

But how it works Facebook Pay? First of all, what you need to do is download the app from the store and configure it. It will not be a special section of the social network, but a separate application. Once started, the app purse will allow the user to choose his preferred payment method.

According to Mark Zuckerberg's company, almost all major credit and debit cards, as well as PayPal, are supported on Facebook Pay. And above all, it is a service that “is based on financial infrastructures and on existing partnerships and is separated from the Calibra portfolio which will rely on the Libra network”. There is no correlation, therefore, between Facebook Pay and the new cryptocurrency coined by the same company that is actually encountering several difficulties to establish itself

After the first time, it will no longer be necessary to re-enter the payment information. Therefore, it will be much faster for the user to pay for a service within the Menlo Park galaxy. At the same time, the app will keep a history of the latest transactions. In this way, it will be easier to manage your expenses and check the latest movements.

It will be possible, finally, to guarantee greater security in payments not only through a special cryptography on the data entered, but also because it will be possible to enter the confirmation of each payment through the use of a Pin or facial or fingerprint recognition

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Facebook Pay, what can you pay

From this week, all Facebook users can – via Facebook Pay – make donations for fundraisers , or make in-game purchases , or to purchase tickets for events directly on the social network and even to buy merchandise from the Marketplace , but only some selected companies or the official one of Facebook. Via Messenger, on the other hand, it is possible to send money to your contacts

Deborah Liu, Facebook's Marketplace and Commerce Vice President, said in this regard: “Users already use payments on our apps to make purchases, make donations for a cause or send money. Facebook Pay will make these transactions easier, while it will continue to keep payment information secure and protected. ” We just have to wait for the launch of Facebook Pay also in Italy.

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Author

Born in Messina in 1993, lives in Rome since 2016. Professional journalist since 2019, for TPI he deals with SEO and news. Sports enthusiast, he collaborates with repubblica.it, Running section.

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