Skip to main content

Facebook Mobile Payments Test Moves Towards Portable Digital Identity

By

Facebook Mobile Payments Test Moves Towards Portable Digital Identity

Facebook is testing a new online payments feature for third-party mobile apps.
Facebook, which confirmed a report by AllThingsD, said it is doing very early testing of a system that stores credit card data and then charges transactions with PayPal or other providers on third-party mobile apps. Facebook is testing the payments system with ecommerce company JackThreads.
But Facebook is not going to actually conduct the payment transactions, the social networking giant said in a prepared statement. It will use third parties, including PayPal, Stripe or Braintree for that. But Facebook would store the credit card numbers that people have used before for making purchases with Facebook Gifts, or games on Facebook. The idea would be to make it easier for people to make payments on third party mobile apps by clicking a Facebook button, instead of having to enter a credit card number. That would also help Facebook’s ad business because advertisers would see higher conversions if payments are easier to transact.
Facebook in a statement the new feature does not move away from existing payments providers like PayPal:
“We are working on a very small test that gives people the option to use their payment information already stored on Facebook to populate the payment form when they make a purchase in a mobile app. The app then processes and completes the payment. The test is designed to make it easier and faster for people to make a purchase in a mobile app by simply pre-populating your payment information.  It will be a very small test with 1-2 partners. Additionally, this test does not involve moving the payment processing away from an app’s current payments provider, such as Paypal.  We continue to have a great relationship  with our payment processing partners, and this product is simply to test how we can help apps provide a simpler commerce experience.”
Regardless of whether Facebook is conducting the actual payment processing, this is a major move for Facebook. First it provides benefits of higher conversion rates for advertisers and app developers. Secondly, it moves Facebook more in between ecommerce transactions, something that it has more trouble doing on mobile because of the App Store and Google Play. In the future Facebook could eventually buy a payments processing company or build that functionality. Others like Amazon and Apple have been successful by storing users’ credit cards for ongoing transactions
Labels:

Comments

Post a Comment

Popular posts from this blog

Google Pixel, Pixel XL pre-orders open: Here are the unique features

By
Google Pixel, Pixel XL pre-orders open: Here are the unique features Google  Pixel and Pixel XL smartphones are available on Flipkart for pre-order. And it looks like Google is only bringing the ‘Quite Black’ colour variant to India for now, with ‘Very Silver’ and ‘Really Blue’ both not available in India yet. Google Pixel and Pixel XL with their premium pricing are set to compete with the likes of Apple iPhone 7, iPhone 7 Plus,  Samsung Galaxy S7  and Galaxy S7 edge. Google Pixel and Pixel XL are first ‘Made by Google’ smartphones, and come with Google Assistant in-built, which is also the highlight of the devices. Honor 8 First Look Video Google Pixel and Pixel XL have a aluminum and glass design. Google Pixel is priced at Rs 57,000 for 32GB version in India. The 128GB variant of Google Pixel costs Rs 66,000. Google Pixel XL is available at Rs 67,000 for 32GB stor...
Post a Comment
Read more

Make self control freak talk

By
Make self control freak talk!!!!! Make him talk http://www.selfcontrolfreak.com/word.html
Post a Comment
Read more

Mission Impossible – Rogue Nation

By
Mission Impossible – Rogue Nation: Film Review Thanks to a sharp script that springs a real surprise or two and a pace that never slackens, Mission: Impossible – Rogue Nation rates as the second-best of the numerous franchise titles of the summer, after Mad Max: Fury Road. Armed with an absorbing mystery plot that does more than just connect the dots between action set-pieces (the most outlandish of which is dispensed with in a Bond-like opener), writer-director Christopher McQuarrie maintains the uptick in M:I quality established by the last two entries, and should land this entry within the series' customary range of a half-billion bucks worldwide. Working with Tom Cruise for the fifth time (if you include his uncredited rewrite on the last M:I feature, Ghost Protocol), McQuarrie benefits dramatically from extending the IMF team's official ostracization to a point of total disenfranchisement from the American government; in an early scene, the CIA chief (Alec B...
Post a Comment
Read more