Facebook has undeniably become a center for digital advertising and business. The social network can be a powerful tool for business owners and marketers, especially those who use Facebook ads. It can help you leverage a social network on which millions of people spend their time. This is why it is essential to know how to set up Facebook Pay.
You may be new to Facebook Pay, but there is no need to worry. BusinessYield is here to guide you and provide you with everything you need to know.
What is Facebook Pay?
Facebook Pay is an e-payment tool that powers digital transactions over all the Meta products: Facebook, Facebook Messenger, Instagram and WhatsApp. It can be used for peer-to-peer or business transactions.
Following the success of digital payment methods, Facebook — now rebranded to Meta— launched Facebook Pay in 2019. To align with the rebrand, Facebook Pay is also now called Meta Pay.
Facebook Pay doesn’t store money; it acts more like an intermediary. For that reason, users must link a payment method such as a debit card, credit card, or PayPal to send and receive money. While this feature is available in over 100 countries, its scope of use and the Meta channels it supports differ in every country.
As a digital payment method, it has a number of benefits for businesses.
How to set up Facebook Pay on Facebook mobile
- Launch the Facebook app.
- Tap the “Menu” button (in the lower right corner of your screen on iPhone and upper right on Android).
- Scroll down and tap “Settings & Privacy, and then “Orders and payments.”
- Tap “Payment methods, then “Add payment method.”
- Choose whether you want to enter your credit/debit card details or your PayPal account login.
- Once added, save the information and wait for it to appear under “Payment Methods.”
How to set up Facebook Pay on desktop
- Open Facebook.com.
- Navigate to the “Settings & Privacy” section of your account by clicking the small arrow in the upper-right-hand corner of your web browser’s screen.
- Select “Settings.”
- On the left-hand side of the screen, click “See more in Accounts Center.”
- Select the “Payments” option under the Account Settings header.
- Select “Meta Pay.”
- In the Payment Methods box, click the “Add Payment Method” link.
- Select whether you want to add a PayPal account or a credit/debit card.
- Connect your PayPal account or enter your credit/debit card details.
- Once added, click “Save.”
Why Use Facebook Pay
Meta already has a massive set of users across all its platforms — a total of 3.71 billion monthly active users worldwide. This means that, with Facebook Pay, you will open the door to more potential customers. And with the increasing popularity of digital payments, Facebook Pay is an attractive option for tech-savvy customers.
Unlike other digital payment methods, Facebook Pay reduces the number of steps customers need to take to make a purchase when using any Meta product. Customers initiate purchases on Facebook or Instagram without being redirected to external sites. Plus, they can use their stored credentials to speed up the checkout process. User-friendly payment methods like this one help businesses boost conversion rates and often make impulse purchases easier.
Lastly, this feature is free to set up and use for businesses and consumers. However, you may incur fees from PayPal (if that’s your linked payment method) and from the Meta Commerce Manager. We’ll get into more details later in this article.
Despite all the benefits, businesses should know that cross-border transactions are not supported at the moment. Besides, some of the most important Facebook Payment applications are available in just a few countries. We’ll discuss that in the next section.
Where to Use Facebook Pay
Facebook Pay interacts with all the Meta messaging channels and social networks: Facebook, Facebook Messenger, Instagram and WhatsApp.
Facebook Payment: In-app Purchases
Facebook Payment is a way to pay for various entertainment on Facebook, including games, in-game purchases, and exclusive content on Facebook Watch. Depending on users’ location, the availability of the entertainment options will vary.
Following other successful livestream platforms like Twitch or YouTube, Facebook has also created a system of subscriptions and donations via Facebook Payment to support content creators.
Facebook Payment: Messenger Transactions
Facebook Messenger users in the US and Thailand can easily transfer money to their contacts or request payments from them. Sending or requesting money is similar to sharing images or videos and can be initiated in a conversation thread.
While this feature was designed with peer-to-peer transactions in mind, it can also be used by businesses that don’t handle a high volume of daily purchases. On Facebook Messenger, the Facebook Pay limit per month for total transactions is $9,999. This includes sending and receiving money.
For instance, this is a handy tool for hospitality businesses that require reservation deposits or upfront payments, as customers can transfer the money after asking about availability. Businesses can also view the receipt in the conversation thread, creating a record for both parties.
Once again, this is only possible if both the business and the customer reside in the same country and have access to the feature in the Facebook Messenger app.
Facebook Payment: WhatsApp Pay Transactions
In recent years, Meta has been testing WhatsApp Pay, an in-app payment system for WhatsApp users in Brazil and India. Due to WhatsApp’s popularity in those countries, Meta wants to give WhatsApp users a way to send and receive money directly without leaving the app.
WhatsApp Pay is enabled by Facebook Pay and designed to work in conjunction with other WhatsApp e-shopping tools such as the Business Directory, Catalogs, and Shopping Cart.
Facebook Payment: In-app Checkout on Facebook Shop and Instagram Shop
If you have a Facebook or Instagram Shop, customers can make purchases directly in the app using Facebook Payment. Note that this is only available in the US. Of course, you’ll need to first set up a Facebook or Instagram Shop on the Meta Commerce Manager.
Be aware that Meta charges Commerce Manager users a selling fee for every checkout on Facebook or Instagram Shops. For every sale above $8, there is a 5% fee. For sales below $8, there is a $0.40 fee.
Facebook Payment: Donate to Fundraisers
Meta gives Facebook and Instagram users tools to raise funds for non-profit organizations via Facebook Payment in supported countries.
Across the Facebook or Instagram apps, there are several ways to pay through Facebook to donate to Meta Fundraisers. This includes Facebook Pages with a Donate button, Facebook Live with a Donate button, Instagram Stories with a Donation sticker, Instagram Fundraiser in Reels, etc.
Meta doesn’t charge any fees per transaction, meaning that the organizations will receive the full amount that users donate.
Facebook Payment: Integration with Shopify
Business owners can add a button in their Shopify stores to give visitors the option to check out using Facebook Payment. This option is only available to online stores located in the US.
Also, do you know that businesses don’t need to have a Facebook account to add a Meta Pay button to their Shopify store? Well, now you do.
Benefits of Using Facebook Pay
The introduction of Facebook Pay across its family of apps makes it incredibly easy to purchase whatever your heart may desire across platforms at zero fees. The applicability of the saved information streamlines the buying process immensely.
That being said, you only have to use it on whatever app of your choice. So, if you only ever want to use Facebook Pay on Facebook and not Instagram or vice versa, this payment option has got you covered.
Plus, you can use Facebook Pay for more than just mere shopping. You can use it to send money over Facebook Messenger securely. You can donate to charity campaigns that pop up on your Instagram story via a button. It can also be your payment of choice for more exclusive games and events that pop up on your Facebook news feed.
Not only can you spend with whatever payment method you have saved under your Facebook Pay, but it allows others to automatically send that money your way as well, without even asking for your information.
Facebook Pay Customer Service
You can contact Facebook Pay customer service work for the following:
Pending Facebook payments
If you have a technical problem or your payment services are disrupted, you can request that your payment be made later. When someone sends you money, you receive it nearly immediately. However, if you do not receive payment, the transaction may take up to 24 hours to complete.
Dispute on Facebook Pay
Facebook provides many tools in their Support Centre to assist you in contacting a third party to resolve a money transaction issue. If you have a disagreement with a third party over goods or services you purchased, only Facebook Pay is in charge of your payments. You may lose your money if you utilize Facebook Pay for fraudulent transactions.
If you suspect an unlawful or otherwise problematic transaction has happened under your account, you must contact Facebook Pay customer service immediately. So that they can take precautions to avoid financial harm.
Email support for Facebook payments
If you are having problems, you should contact Facebook’s Payments Support Center. You can contact their support staff if you need assistance with payments via Facebook messaging, and they will get back to you within 1-2 business days.
You can also contact Facebook Pay customer service by dialing 1-866-238-8605. To reach a customer service representative, dial the number for your state or region.
Is Facebook Pay safe?
Meta uses anti-fraud technology to detect suspicious activities and will notify you of anything unusual. Plus, Meta encrypts payment card and bank account information and gives the option to use PIN and biometrics to authorize payments.
Meta Pay is secure due to its “advanced technology,” which includes anti-fraud monitors, data encryption, and notifications for unusual activity, the company says. The platform also allows users to add a PIN or use the login biometrics on their device to purchase or send money.
Facebook Pay limit
Person-to-person payments on Facebook Pay are subject to a transaction work limit. Once you’ve added an acceptable payment method to your account, the type of payment method you use to transfer money will determine your transaction limit. Please keep in mind that your financial institution or card issuer may have their own limit on Facebook Pay transactions, and you may need to check with them for further work limits.
The transaction limit for Facebook Pay is the most money you can send or receive in one transaction. The maximum amount you can transmit or receive in 30 calendar days is known as the 30-day Facebook Pay period limit.
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