Social network giant Facebook is testing a “buy” button which would enable users to purchase products featured on advertisements or page posts on the social network.
Facebook is testing a “buy” button
Users can pay with a card that Facebook has already on file or enter new details and save them for future use. No payment details are shared with advertisers. Initially, the feature is only being tested with selected small and medium-sized businesses in the US.
Meanwhile, micro-blogging network Twitter is acquiring payments outfit CardSpring for an undisclosed fee. CardSpring provides an API for developers to link digital applications to payment cards. CardSpring’s technology will enable Twitter to link with merchants by offering discounts in tweets, with customers entering their card details so that when they make a purchase at a later date, the saving is automatically applied.
Separately, a third social media player, Snapchat, has reportedly filed trademarks indicating that it is planning to play in payments. The trademarks are said to include computer application software for processing electronic payments; and electronic payments processing covering electronic funds transfer, ACH, credit card, debit card, electronic cheque, mobile and online payments.
The post Facebook gets busy in payments appeared first on Payments Cards & Mobile.
