Facebook Pay is a seamless and secure way to make payments on Facebook, Instagram, Messenger, and WhatsApp. You enter your payment account information once and then use Facebook Pay across the apps.
Unlike an e-wallet, Facebook Pay doesn’t store any money in your account – it is just a seamless way for you to make payments from within the Facebook crew of apps. Besides sending money to different users, Facebook Pay can additionally be used as a technique of payment for the Facebook Marketplace. Once you enter your fee small print for the first time, you can use Facebook Pay to make in-app payments and purchases besides re-entering them every time. Facebook Pay is great for sending money to friends and family. All you need is a debit card number, and you can make payments really easily from any conversation. In its current form, Facebook Pay is just a peer-to-peer payment platform. You can’t actually buy anything with it.
This is where PayPal is different. As you would possibly already know, plenty of on-line shops and even physical stores let you pay with PayPal. All your charge records are saved in your account, and you can simply test out with your PayPal account to securely and rapidly buy things.
Another difference that’s really only relevant for a short time is that Facebook Pay requires you to have a Facebook account. This is because you have to set up your account through Facebook or Messenger. However, once Facebook makes Facebook Pay available to WhatsApp and Instagram users, you’ll be able to use the service without ever having a Facebook account.