Facebook Pay send and receive money for free
WhatsApp will soon offer a payment solution that will allow users to send and receive money for free, thanks to Facebook Pay. Available for the moment in Brazil, this functionality could arrive in France and other countries of the world soon.
Failing to give up ads on WhatsApp, Facebook will soon give WhatsApp a rather new feature for instant messaging service: the ability to send and receive money for free. According to an official announcement from the social network, it will be “as easy as sharing photos”.
This feature has just been deployed in Brazil, but Facebook CEO Mark Zuckerberg has already announced that it will arrive in other countries shortly. This system is entirely based on the Facebook Pay ecosystem, which can already be found on Facebook Messenger.
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As a reminder, Facebook Pay is a payment service in effect on all applications stamped with Facebook. Developed in collaboration with PayPal and Stripe, Facebook Pay is a unique payment solution available on all of the California firm’s social networks such as Instagram, Facebook, Messenger, and WhatsApp.
Facilitate purchases from WhatsApp
In addition to being able to send or receive funds, users will also be able to make purchases in the catalog of companies present on WhatsApp Business. Transactions are free of charge for users. However, businesses will have to pay “a commission similar to that of credit card transactions”.
With this simplification of payments, Facebook hopes to motivate more companies to enter the digital economy. As a reminder, Facebook Pay (and therefore, by WhatsApp extension) is compatible with almost all current credit and debit cards. And if you are reluctant to enter your bank details on the application, you can go through your PayPal or Stripe account to make money transfers.
In terms of security, the social network relied on expertise in this area from Stripe and PayPal, with an anti-fraud surveillance system. Mobile support requires users will have to validate an operation thanks to the various security systems at their disposal, such as the PIN code, facial recognition, or even the fingerprint reader.