Facebook has confirmed reports it is testing a mobile payments feature,
which could provide it with an additional revenue stream to support its
growing advertising business and pitch it head to head with eBay-owned
PayPal.
The product Facebook is testing with a group of commerce companies allows users to make purchases on mobile apps using their Facebook login information, according to an All Things D report. Facebook already holds the details of millions of credit and debit cards from users who have paid for virtual goods on the site.
Facebook spokeswoman Tera Randall says: “The product is simply to test how we can help our app partners provide a simpler commerce experience. This test does not involve moving the payment processing away from an app’s current provider”
Read more here:http://www.marketingweek.co.uk/news/facebook-confirms-mobile-payments-testing/4007660.article
The product Facebook is testing with a group of commerce companies allows users to make purchases on mobile apps using their Facebook login information, according to an All Things D report. Facebook already holds the details of millions of credit and debit cards from users who have paid for virtual goods on the site.
Facebook spokeswoman Tera Randall says: “The product is simply to test how we can help our app partners provide a simpler commerce experience. This test does not involve moving the payment processing away from an app’s current provider”
Read more here:http://www.marketingweek.co.uk/news/facebook-confirms-mobile-payments-testing/4007660.article
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