What is Facebook Pay and how does it work?

Facebook is rolling out a feature that lets you buy products directly through the social network, without ever leaving to go to an external website. The new service, called “Facebook Pay,” will be available in limited release over the coming weeks.

The system uses your Facebook account’s payment information to complete purchases made on third-party sites and apps. For example, if you see an ad for a product on Facebook and click through to buy it, you will be able to purchase the product with just a few clicks.

Currently, Facebook lets businesses use its “Buy” buttons to sell products from their websites directly from the News Feed. If those merchants integrate Facebook Pay into their checkout process as well, users could buy products without leaving Facebook.

Facebook has said that its new service will be more secure than other systems because it uses a process called tokenization, which means the credit card number is never sent to merchants. It also doesn’t store any payment information on its servers.

Instead of storing your actual credit card number, Facebook’s system uses a special digital token that represents your credit card. The token can be used to represent any number of other credentials, so if the merchant changes its payment processor Facebook could shift over to using PayPal or Apple Pay tokens instead.

The social network is working with several major payment companies including MasterCard, Visa and First Data to help businesses adopt the new feature.

Facebook is building a system that lets you buy products through the social network, without ever leaving to go to an external website. The fact that Facebook doesn’t store any payment information or transactions on its servers could make it more secure than other systems. However, using third-party apps and sites introduces some risk as well.

The company is working with several major payment platforms to help businesses adopt the new feature.

Facebook is rolling out a feature that lets you buy products directly through the social network, without ever leaving to go to an external website. The new service, called “Facebook Pay,” will be available in limited release over the coming weeks.

The system uses your Facebook account’s payment information to complete purchases made on third-party sites and apps. For example, if you see an ad for a product on Facebook and click through to buy it, you will be able to purchase the product with just a few clicks.

Currently, Facebook lets businesses use its “Buy” buttons to sell products from their websites directly from the News Feed. If those merchants integrate Facebook Pay into their checkout process as well, users could buy products without leaving Facebook.

Facebook has said that its new service will be more secure than other systems because it uses a process called tokenization, which means the credit card number is never sent to merchants. It also doesn’t store any payment information on its servers.

Instead of storing your actual credit card number, Facebook’s system uses a special digital token that represents your credit card. The token can be used to represent any number of other credentials, so if the merchant changes its payment processor Facebook could shift over to using PayPal or Apple Pay tokens instead.

The social network is working with several major payment companies including MasterCard, Visa and First Data to help businesses adopt the new feature.

Facebook is building a system that lets you buy products through the social network, without ever leaving to go to an external website. The fact that Facebook doesn’t store any payment information or transactions on its servers could make it more secure than other systems. However, using third-party apps and sites introduces some risk as well.

The company is working with several major payment platforms to help businesses adopt the new feature.

Facebook is rolling out a feature that lets you buy products directly through the social network, without ever leaving to go to an external website. The new service, called “Facebook Pay,” will be available in limited release over the coming weeks.

The system uses your Facebook account’s payment information to complete purchases made on third-party sites and apps. For example, if you see an ad for a product on Facebook and click through to buy it, you will be able to purchase the product with just a few clicks.

Currently, Facebook lets businesses use its “Buy” buttons to sell products from their websites directly from the News Feed. If those merchants integrate Facebook Pay into their checkout process as well, users could buy products without leaving Facebook.