Earlier this year, Facebook announced it was testing a mobile payments platform that would allow users to log in for e-commerce transactions using the social network. If you had purchased an in-game credit or aFacebook Gift, your credit card information is already stored with Facebook. The company has been working on a way for Facebook users to utilize Facebook as a one-tap login mechanism, making it so users don’t have to get out their credit cards if they want to purchase something via mobile.
According to AllThingsD and TechCrunch, Facebook is rolling out this capability now for the iOS apps of JackThreads and Mosaic.
TechCrunch reported that Facebook is partnering with PayPal, Stripe and Braintree to power an “Autofill with Facebook” button, which should appear on the aforementioned iOS apps Monday and in other mobile shopping apps in the near future.
When a Facebook user taps the button, it imports the payment information already stored within Facebook into that app. This cuts back on the friction of a transaction, making it more likely a user completes a sale. The more steps there are to a conversion process, the less likely the customer is to complete.
Facebook payments product manager Deb Liu discussed this new feature with TechCrunch:
We’re all trying to solve the same problem: helping devs monetize and convert. The more conversions, the more payment volume that goes through Braintree, Stripe, or PayPal [and they make their fee that way]. … Mobile is where the conversion gap is, where our customers are going in the future. It’s really important to make this an amazing mobile product. That said, we don’t rule out ever doing this on desktop some day.
To us this look like the logical follow-up of the Facebook “want” button which never rolled out (for now). How do you feel about this new feature? Would you trust Facebook for your online payments?
Related Stories:
- RoadMap to Cross-Channels Social Networking
- Foursquare Gets iOS7 update, Tells You Where the Action is
- Google+, Now With SnapSeed Photo Editor
You might also like
More from Facebook
Facebook Bans Donald Trump Indefinitely From Its Platforms
Following the recent events in Washington DC, Facebook CEO Mark Zuckerberg has announced an indefinite ban on Donald Trump from …
New Facebook Pages Come Without A Like Button
Facebook is rolling out a new design for Facebook Pages. It comes with new features, but without a Like button.
New Year’s Eve 2020 Sets New Records For Use Of Facebook Apps
Facebook was expecting a traffic spike on its apps over New Year's Eve, but this year broke all previous records …
3 Courses To Help You Create Better Video Content For Your Ads
Here are three free Facebook Blueprint courses to help you take your content to the next level.
Facebook Attacks Apple With Full-Page Newspaper Ads
Facebook is running newspaper ads newspapers criticizing Apple for its policy giving iOS users the choice of whether they want …
New Facebook Collab App Lets You Create Music With Friends
Facebook Collab is a new experimental music-making app available in the US, that lets you create music with friends.
Facebook Expands Brand Collabs Manager To Public Groups
Facebook is rolling out it s Brand Collabs Manager to public groups this week, giving them a new opportunity for …
The US Government Is Taking Legal Action To Break Up Facebook
Forty-eight attorneys general and the Federal Trade Commission say Facebook Needs To Sell Instagram And WhatsApp.
Facebook Makes It Easier For Auto Dealers To Manage And Promote Their Vehicles
Facebook is rolling out several updates to US-based dealership Pages to make it easier for auto dealers to showcase and …