How Do Facebook Payments Work in 2022 ( Complete Guide )

Facebook Pay is a money transfer feature introduced in 2019 by Facebook. Through this feature you can transfer money not only on Facebook but also through Messenger, WhatsApp and Instagram. In this post you will get to know how do Facebook payments work and how to make the first payment through Facebook pay.

Are you planning to start a business on Facebook or Instagram? If the answer is yes, then this article is definitely useful because Facebook Pay makes online payments easier. You do not have to pay any fees to transfer or receive money to Facebook in Facebook Pay.

How to Setup Facebook Pay

1.Find the Facebook Pay

Open the facebook app and  tap on the hamburger menu .Scroll down and  tap on ‘Facebook Pay’ or type facebook pay on search bar

2.Add your Payment Method

Now you need to add a payment method to facebook.Tap on ‘Add payment method’ and facebook provides 2 methods to you.

• Credit or Debit Card
• Paypal 

If you choose the first method, you will need to provide credit or debit card details to Facebook. But  if you choose PayPal method just you need to access through PayPal.

3.Settings Overview

After adding a payment method you can customize payment settings by tapping the gear wheel icon.

Security

If you want to create a pin to confirm payments just turn this on and create your pin.If you feel you need more security to confirm payment, enable ‘Use biometric data instead of PIN’.

Order info

If you are ordering something in the Facebook Stores  and Marketplace you are given this option to add your delivery address and contact information.

Read: How to Download Facebook Messenger Conversations

Currency 

You can choose a currency that you are familiar with to pay or receive.By default it will be selected as the US Dollar

Facebook Stars

You can earn stars when featuring live streams.Views can buy stars and send it to you while streaming.Facebook pays 0.01$ USD for stars you received.

 How Do Facebook Payments Work and  How to Use It

Facebook is introducing a payment method not just for an e-commerce platform.You can make  donations and fundraisers or can share money with your friends through facebook pay.

Currently Facebook pay runs on Facebook, Instagram, Whatsapp and Messenger. See the list of country eligibility for these services here.

Send Money to Your Friends

One of the interesting features of facebook Pay is that you can send money to your friends and relatives through messenger.

1.Go to the messenger and open the conversation with the person you want to send money to.

2.Tap the four dots on the left side of the text bar

3.Select the ‘Pay Friend’ icon shown on the dollar sign

4.Enter the amount you want to send

5.Select the payment method and fill payment form

6.Enter the security PIN already created in the Facebook app or create a new PIN here.

7.Finally tap Pay button to send money

Shopping in Facebook Marketplace

Buy whatever you want in facebook marketplace in single tap.Facebook makes payments easier by introducing this payments feature.

1.Go to the Facebook Marketplace and select the item you want to buy 

2.Click Buy this Item

3.Select the payment method and place the order

4.Enter the pin and tap on ‘Confirm’ button

After completing all payments you can re-check your transaction through the payment history.

Goto  facebook pay and see the activity list.