The mobile payments system is fast gaining acceptance among masses. So, in an attempt to better optimize its outreach to people, Facebook launched a service to send and receive payments digitally, called Facebook Payments. What is so special about Facebook Payments and how to use it? Let’s take a look.
An essential feature of Facebook Payments is that there’s no cost to use the service. It offers PIN-based protection and industry-leading security. Plus, it saves you from the trouble of sharing bank details with people while carrying out transactions. You can use facebook Payments to:
- Send money to a friend.
- Purchase games and make in-app upgrades.
- Donate to a charity or personal fundraiser.
- Buy and sell items on Marketplace and in groups.
- Buy advanced tickets for an event.
How to use Facebook Payments
The service can be accessed via the Facebook Messenger app. It utilizes a bank-issued debit card. In addition, you can also use a credit card or Facebook gift card to fund payments.
To begin, go to ‘Settings’ and select ‘Payments’ option as shown in the image above.
Then, go to ‘Account Settings’ and under ‘Payment methods’ section, click ‘Add Credit or Debit card’ link.
Fill in the required details and ‘Save’ the changes made.
Once done, an icon will be added to the chat which you can readily access to send payments and receive payments from anybody who owes you money.
So, select the amount, add a message and click ‘Request’ or ‘Pay’ to complete your transaction. However, it is important to note that like bank transactions and deposits, payments could take up to three business days to get approved.
Also, as an optional, you can include a personal identification number for added security. If you choose to set up a PIN, make sure this is a number that is unique and quite hard to guess. Mobile users can also enable Touch ID.