Facebook Pay: payment service for WhatsApp, Instagram and Facebook

Facebook has joined the trend of payment systems by announcing Facebook Pay.

What it is

Facebook Pay is

a service that allows you to safely makepurchases and send money commission-free between users on WhatsApp, Instagram, Facebook and Facebook Messenger. Payments within these applications existed before, but now they will be displayed in one place with a common history and settings.

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The system supports most credit and debit cards, as well as PayPal. Payments will be processed by Facebook partners: Stripe, PayPal and others.

“People are already using payments in our applications,to shop, donate and send money to each other. Facebook Pay will make these transactions easier by keeping your payment information safe and secure,” writes Deborah Liu, VP of Markets and Commerce

When to expect

Facebook Pay will launch in the US this week. The company plans to launch it in other countries later.

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