Facebook rolls out ‘Facebook Pay’ in Australia; here’s how to make purchase, send money

Facebook on Friday rolled out its ‘Facebook Pay’ product in Australia as a test market. According to the social media giant’s webpage, the new product is expected to make payment experience secure and convenient across Facebook, Messenger, Instagram, and WhatsApp. People already use payments across the company’s apps to shop, donate and send money.

Sector experts are seeing the new product as a potential challenger to a few services being offered by Afterpay Square Cash App.

Source: © Jcuneok | Megapixl.com

How does Facebook Pay work?

• On the Facebook app or website, the users need to go to ‘Settings’ > ‘Facebook Pay’.
• Next you need to add a payment method – credit or debit card or PayPal.
• You can now use Facebook Pay to pay next time.

Users also have an option to add PIN or biometrics to secure their payments.

“In the future, when Facebook Pay is available on Messenger, WhatsApp, and Instagram, you will not need a Facebook account and can set up Facebook Pay directly within each app,” the company webpage said.

Source: © Aprescindere | Megapixl.com

Facebook Pay claims to be a secured platform. It said that it monitors purchases with an anti-fraud technology. The technology can detect unauthorised activity. It also has advanced data storage and encryption for payment card and bank account details.

The company further said that it will launch Facebook Pay to other apps and nations with an aim to take this service to more people over the period.

Source: © Kianlin  | Megapixl.com

Bottom Line

As already discussed, the new product may pose potential challenge to some services being offered by Afterpay Square Cash App. However, it would be seen how Facebook users in Australia react to the new product.  It all depends on how secure and seamless Facebook Pay is.

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