Facebook offers several different payment options that allow users to send and receive money through its platform. The main ways to get paid on Facebook include Facebook Pay, Facebook Fundraisers, and invoice payments through Facebook Messenger.
Facebook Pay
Facebook Pay is one of the most convenient ways to send and receive money through Facebook. It allows you to make payments and donations directly within Facebook, Messenger, Instagram, and WhatsApp.
To use Facebook Pay, you need to add a payment method such as a debit card, credit card, or PayPal account to your Facebook account. Once you’ve set up a payment method, you can easily send or request payments to friends and family or make donations and purchases without leaving the Facebook app.
Some key things to know about Facebook Pay:
- It’s free to send and receive money through Facebook Pay. Facebook does not charge any fees.
- Payments happen instantly. The money is deducted from your payment method right away.
- You can send money to anyone with a Facebook account, as long as they’ve added a payment method.
- Facebook Pay can be used for person-to-person transactions as well as donations, event tickets, in-game purchases, and more.
If you want to receive money for goods or services through Facebook, Facebook Pay is a convenient option. It allows your customers or clients to pay you directly through Messenger or your Facebook Page.
Facebook Fundraisers
Facebook Fundraisers allow people to raise money for causes they care about. As the fundraiser creator, you can choose to receive the funds you raise directly.
To create a Facebook Fundraiser:
- Go to the Fundraisers section on Facebook
- Click “Raise Money”
- Select the non-profit you want to raise money for
- Give your fundraiser a title and description
- Set a fundraising goal
- Input your payment information to receive funds raised
- Click “Create”
Once your fundraiser is live, you can share it with your Facebook friends, family, and followers. Anyone can donate directly through your fundraiser page. The money raised will be sent to your connected payment method.
Facebook does not charge any fees for personal fundraisers. The social media platform absorbs all payment processing fees. So you receive 100% of the money raised through your fundraiser.
Invoice Payments via Messenger
If you sell products or offer consulting, services, or freelance work, you can use Facebook Messenger to request and receive invoice payments.
To get set up to receive invoice payments:
- Make sure your Facebook Page is set up for payments
- In Messenger, tap the user you want to invoice
- Select “Request Payment”
- Enter the amount and purpose for the payment
- The user will be prompted to pay your invoice through Messenger
Once the user approves the payment, the money will be deposited into your connected PayPal account or debit card within a few business days.
Facebook does charge a fee for invoice payments:
- 5% fee for payments processed in the US
- No fee for non-profits
- Lower fees in some countries outside the US
So you will receive 95% of the invoice payment amount for a typical US transaction. The fee covers the processing costs.
Other Facebook Payment Options
In addition to the main methods above, there are a few other ways people can pay you through Facebook:
Facebook Store Payments
If you have an ecommerce store on Facebook, customers can pay through your Facebook store checkout flow. You need to connect your Facebook store to a payment gateway like Stripe or PayPal.
Stars Payments
Facebook Stars allows fans to send tips and digital gifts to creators during Facebook Live streams and within Groups. As a creator, you can cash out your Stars earnings.
Payment Bots
Developers can create Messenger chatbots that accept payments within Messenger. This allows for customized payment experiences.
Pros and Cons of Getting Paid via Facebook
Here are some potential advantages and disadvantages of using Facebook payment options:
Pros:
- Seamless payment experience for the payer
- Money goes directly to your connected payment method
- Wide reach – billions of Facebook/Messenger users
- Easy invoicing through Messenger
- No fees for personal fundraisers
Cons:
- Facebook takes a cut of some payment transactions
- Limited payment history data compared to standalone payment processors
- Less professional than standard invoicing platforms
- Some people may not feel comfortable making payments through Facebook
Tips for Getting Paid via Facebook
Here are some tips to successfully receive payments through Facebook:
- Set up a Facebook Page for your business or brand
- Make it easy for customers to find your payment links or invoice options
- Promote the payment options on your Page and in ads
- Give people plenty of reminders to pay invoices
- Use Facebook Pay for easy peer-to-peer transactions
- Run targeted fundraising campaigns and share your fundraiser often
Facebook Payment Policies
Facebook has specific rules around payments and financial services:
- Users must comply with Facebook’s Commerce Policies when making transactions
- Products sold must align with Facebook’s Advertising Policies
- Facebook Ads may not promote financial products and services
- Pages related to cryptocurrency, Forex trading, and binary options are restricted
- Fundraisers must be for charities registered with Facebook
Be sure to review Facebook’s payment and commerce policies closely to ensure your activities are allowed.
Conclusion
Facebook now offers a variety of options for receiving payments directly through its platforms. While Facebook’s payment capabilities are still emerging, they provide some useful alternatives for getting paid online. From peer-to-peer transactions, to invoicing, to fundraising, Facebook can serve as a convenient payment conduit in many situations.
However, traditional payment gateways like Stripe and PayPal tend to offer lower fees, more features, and better data insights for businesses. So Facebook may not be the best primary payment platform for companies selling products and services. But it can be a helpful supplementary payment channel, especially for reaching existing audiences on Facebook, Messenger, and Instagram.
The convenience and wide reach of Facebook’s payment tools make them worth considering. Just be sure to research the fees, rules, and limitations to determine if getting paid via Facebook fits your needs.
| Payment Method | Fees | Payment Destination | Use Cases |
|---|---|---|---|
| Facebook Pay | No fees | Connected debit card or PayPal account | Peer-to-peer payments, purchases, donations |
| Facebook Fundraisers | No fees | Connected payment method | Personal fundraising campaigns |
| Invoice Payments | 5% fee in US | Connected PayPal or debit card | Receiving payment for services, products, invoices |