Facebook Is Building A PayPal Competitor For Easier Mobile Shopping

AllThingsD reports that Facebook is building their own alternative to PayPal to make mobile shopping easier.

Facebook plans to test a new payments product that would allow online shoppers to make purchases on mobile apps using their Facebook login information, according to sources familiar with the company’s plans.

The product, sources say, would allow any shopper who has previously provided Facebook with their credit card details to make purchases on partnering e-commerce mobile apps without entering billing information.

Facebook confirmed the test, which is expected to launch in the next month or so, to AllThingsD.

Thrillist-owned JackThreads, a flash-sale shopping site for young men, is the pilot partner. The company has a strong relationship with Facebook, sees a good chunk of revenue come through mobile phone purchases, and may also have a decent demographic overlap with one particular segment of Facebook users — gamers — who would have provided the social network with credit card information. It will be interesting to see if Fab, another close partner of Facebook’s that does well on mobile devices, will follow suit.

Would you implement Facebook Payments on your site?

Menachem Ani ()

Online Advertising and eCommerce Expert with over a decade of success developing high-impact marketing strategies for online retailers and lead-generation clients.