The financial technology market is a booming industry, worth more than 150 billion dollars in 2020. Facebook is about making an entrance into this market with the creation of Facebook pay. It is a platform in which users can send and receive the money within the Facebook network. It is two years old and Facebook users have enjoyed the platform, which does not seem to have any issue within this period.
Setup Facebook Pay – Facebook Payment Account Setup
Before you start using Facebook pay, you will want to set up the Facebook payment account. Facebook pay is mostly for services on Instagram, Whatsapp and Facebook. It enables you to carry out the transaction with your debit or credit card. You can also make purchases on Facebook Marketplace, sell tickets, and do other monetary activities with your card.
Sending And Receiving Money With Facebook Pay Via Facebook
Facebook pay is one app that as simplify transaction on Facebook. Today, people use Facebook for a variety of purposes, not limited to chat alone. Facebook pay is available for every user on Facebook.
Facebook Pay can be used on both the web platform and the Facebook app. This means transactions can be made with your computer or Facebook app, for convenience. Here are some vital advice on carrying out monetary transactions with your Facebook app.
How to Send Money with the Facebook Payment App
- Begin chatting with whoever you want to make payment to.
- Select the dollar icon.
- Insert whatever amount you intend paying.
- Click on ‘next’ to successfully send the money to the account of the receiver in an instant.
How To Receive Money With Facebook Pay
As soon as you successfully send money via Facebook pay with your Facebook messenger app, you will receive a notification from Facebook swiftly. For those who have a synchronized Paypal account and debit card, they receive their money instantly. Others with a separate debit card info will still have to undergo the process of verification. After successful verification, they receive their money. Please note that money does not stay in Facebook database, there might be slight delays due to bank procedures.