Launched in 2019, facebook Pay, Meta's online payment system, changed its name. To fit the company's new identity, the transaction service was simply renamed Meta Pay. Let's see exactly what this system represents and how to use it.
What is Meta Pay on facebook?
Meta Pay is a payment system that allows users to send money, make purchases and donate within the facebook app ecosystem.
Includes instagram, WhatsApp and facebook Messenger. You can use Meta Pay on facebook to streamline transactions without leaving the social media platform.
What is Meta Pay Cash App?
Similarly, the Meta Pay on Cash app facilitates easy transfers, integrating social media with financial transactions.
MetaPay serves as a versatile payment method and supports various transactions for goods and services on facebook platforms.
To use Meta, simply add a payment method, such as a debit or credit card, to your account. This payment information allows you to send money directly to friends, purchase products, or donate to causes.
The Meta button, found in the payment or checkout sections of supported apps, makes it easy to initiate payments. You can securely store your credit and debit cards, ensuring quick transactions without having to re-enter your details each time.
In terms of security, Meta employs advanced security measures to protect, making it a safe option for digital payments.
There is no MetaPay fee for sending money or making in-app purchases. Which increases its appeal as a convenient payment solution.
What is Meta Pay used for and how does it work?
The way Meta Pay works is simple. There is no need to download an additional application, everything happens directly on social networks.
Users can add a payment solution. These could be bank cards or PayPal accounts in your Meta Pay wallet.
From all these social networks it will be possible to access your balance and the history of transactions made with Meta Pay.
Again, Messenger is only available in the US at the moment. Much criticized for its management of its users' privacy, facebook ensured that data was end-to-end encrypted.
Once the mobile payment method is added to Meta Pay, the user can use it to pay for online purchases. This payment solution has nothing to do (at the moment) with Apple Pay or Google Pay, we will see it further down this page.
To confirm each transaction, Meta Pay requires additional confirmation from its users. With the same principle as any mobile payment solution.
You will have to confirm your identity for each transaction. Confirmation includes a facial (or fingerprint) recognition system or by entering a PIN code for smartphone models not equipped with biometric authentication.
A possible comparison with Apple Pay?
If Apple, Google and Meta have ambitions in mobile payment, their niche is significantly different.
Apple Pay and Google Pay are two mobile payment solutions that aim to be universal, both for online and physical payments. Meta is a project that focuses solely on online transactions, within its ecosystem.
To implement this solution, Meta collaborated with Stripe and PayPal.
Chief Product Officer Deborah Liu explained that “Meta builds on existing financial infrastructure through partnerships.
And it is separate from the Calibra wallet that operates on the Libra network.” In other words, no bank (or online bank) is directly involved in this activity.
Meta Pay enhances the facebook, instagram and WhatsApp application by providing a secure and convenient way to handle payments for various goods and services, making financial transactions seamless within the social media environment.
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