Facebook is gearing up to offer its users mobile payments using their login details.
The payments platform – which is in its testing phase – would let shoppers make purchases on partner mobile apps without entering their billing details.
Go deeper with GlobalData
The move – which was been confirmed by Facebook on 15 August – will join an m-payments market populated with the likes of PayPal, Braintree and Square.
Facebook’s platform would be specifically integrated with the social networking site – for example, partners may include click-through advertisers and e-commerce apps featured on Facebook.
JackThreads, fashion site and app for men, is one of the companies involved in the testing phase.
Facebook made an entry into online payments last year with the ‘Credits’ virtual currency, which has since been abandoned.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFacebook also offers ‘Gifts’, a reusable card that users can send to their friend list to use at certain shops and restaurants.
Related articles:
ING and Alior: Can social get customers cheering for their bank?
PayPal launches ‘pay with your face’ app in UK
Mobile banking: where time stands still
