September 13, 2013
Facebook gets into the mobile payments business
Facebook is getting into the mobile payments services industry, reports Salon. Move over PayPal? According to a variety of sources, including The Associated Press, Facebook has “a very small test” in the works for its new mobile payment platform. Although as of yet there is no set schedule for when this service will go live, it might just change the way you shop online, particularly on mobile devices.
AllThingsD reported in August that the newest test would allow users to permanently link their credit card information to their Facebook login, which could then be used to make purchases on a large number of partnering websites. As of right now, Facebook says that it has no plans to handle the actual processing of the payments, and will continue to use third party payment processing services like PayPal and Braintree.
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