Anyone using Facebook can use FB Pay. But do you know how does Facebook Pay works? It’s a simple way to send money to friends, family, and companies. As well as pay for items sold through Facebook, Instagram, and Messenger. Before that, we need to understand what is Facebook Pay and how does it work? It’s a safe and secure in-app rapid payment tool for buying and selling. If you are a Facebook user or an entrepreneur who is thinking about how does Facebook Pay works or how to set it up, we are here to answer them.
What is Facebook pay, and how does it work?
You will realize how Facebook Pay works if you’ve ever used a friend-to-friend payment service like Zelle. The significant distinction is that it works within the app you are using, whether FB Messenger, Instagram, or Facebook. As a result, it is exclusively available to people using these apps; you only have to set it up once to work on all three platforms. You can accomplish this in just two easy steps:
Log In To Your Choice Of Platform.
You can use Facebook Pay on Facebook, Messenger, and Instagram once you set it up. While you are checking out, it will appear as an option. You can also add it by going to “Settings” and selecting “Facebook Pay.”
Fill In Your Payment Information
Once you have signed in on Facebook pay, you need to fill in your payment card or bank account information. Your information will be securely kept, allowing you to make purchases, donate, and transfer money to friends and family without reaching for your wallet!
How To Set Up Facebook Pay?
1. Open your Facebook account on a browser and sign in to your account.
2. Click on the “Downward arrow” beside the notification bell icon.
3. Go to “settings & privacy.”
4. Now click “settings.”
5. Scroll down to find “Facebook Pay” on the left sidebar menu.
6. You will then be asked to input a payment method, such as a debit or credit card number or your bank account number. Facebook will save your payment information so that you may shop without having to enter your credit or debit card number every time. Once you’ve saved payment information to Facebook or Instagram, Facebook Pay will immediately recognize that payment method.
If you cannot see the Facebook Pay option on Facebook, then probably, it is not available in your country. Here’s a list of countries where it is currently available. If your country’s name appears in the list and you can’t access it, then you need to update the FB app.
Is FB Pay Safe?
With the latest credit card and debit card securities, this is one of the questions that clogs your mind! But you don’t have to worry, as Facebook has many security layers in place. Once you add your credit and debit card details to FB, it encrypts all the data. Also, it will never share your payment and account details with any third party without your permission.
It is safe to use for your business as it does not have any fees collected on transactions.
Frequently Asked Questions
Q1. How does Facebook pay work with PayPal?
Facebook Pay supports almost all credit and debit cards, including PayPal. You can add PayPal as a payment mode. Follow these steps to add your PayPal details to FB Pay:
- Tap on the hamburger icon.
- Go to “settings & privacy” the tap “settings.”
- Under Account settings, tap “payments.”
- Now under orders and payments, you can “add PayPal.”
- Log in with your PayPal login details.
You do not have to log in to PayPal once you have added your PayPal details.
Q2. How does Facebook pay work when receiving money?
The money is received almost instantly. You will receive a notification when someone sends you money. All you have to do is add your debit card details on FB Pay.
Q3. Is there a fee for Facebook Pay?
There is no fee to send or receive money through Facebook Pay. It is a free feature that you can use to send money to your family and friends. If you have already added a payment method, you will receive the money right when it is transferred to you.
Q4. Is Facebook pay the same as PayPal?
Facebook Pay allows you to send money to your friends and family without the processing fee, whereas you need to pay some fees if you use PayPal.
Q5. Does Facebook money transfer immediately?
If a payment method is added to your account, you will receive the transferred money almost immediately. Your payment provider might take 3 to 5 business days to post the money to your account.
Now that you know how does Facebook Pay works, you can use this user-friendly platform to make payments without thinking if it is secure or the pay limit! Facebook Pay claims that 99% of payments are processed almost immediately. However, if some payments do not get processed, they are reviewed within 24 hours.
You can set Facebook Pay easily by going to your settings and adding details like your name, username, contact, and other details. Also, you need to add debit card details if you want to receive money instantly. You can also add PayPal to your payment methods. You do not have to worry about paying extra processing fees as it is free.