What Is Facebook Pay?
Facebook Pay is Facebook’s entrance into the digital wallet sphere. It provides a free, quick, and secure way to transfer money between buyers, sellers, and friends.
Is Facebook Pay Safe?
Facebook Pay is safe to use. Facebook implemented several measures to ensure the security of transactions. All debit and credit card information is encrypted, and terms & conditions prohibit sharing payment information. Moreover, this data is stored separately from account data — meaning it’s more secure and less likely to be leaked if a data breach occurs.
Facebook pay also includes:
- Anti-fraud technology.
- Notifications signaling unusual activity.
- An option to use a PIN or biometric security features (FaceID & TouchID) for additional security.
If an unauthorized FB Pay transaction does happen, Facebook has customer support that could be reached through email 24/7. For faster and more active response, Agency as a cybersecurity company provides complete ID theft coverage, loss of funds coverage, and credit monitoring. Agency’s team of cybersecurity professionals also monitors and responds 24/7 to security incidents on all your devices.
Should I Get Facebook Pay?
Facebook Pay is by no means necessary for every consumer and is not as commonly used as other digital wallet services out there. However, you would benefit most from setting up the digital wallet if:
- You are a consistent user of Facebook.
- You have Agency Nextgen Antivirus plus an active security response to ensure that digital payments are protected on your end.
- You are actively making purchases on Facebook Marketplace.
- You have friends who have an accepted FB Pay method linked to their accounts.
How Do I Get Facebook Pay?
- Go to “Settings” on your Facebook app or website.
- Click “Facebook Pay”
- Add an approved payment method.
- Click Facebook Pay whenever you want to make a payment or transfer money.
Note that this digital wallet is not available globally to all users, but Facebook is working to expand the service.
It’s also a good idea to set up Two-Factor Authentication on Facebook to secure your account a step further. Facebook has published easy-to-follow instructions on how to set it up here.