Source: Bloomberg
Facebook Inc. (FB), owner of the world’s most popular social-networking website, is testing a feature that lets users link their payment information to other mobile applications as it seeks to simplify e-commerce for members.
The program allows users to place payment data on file with Facebook into a checkout form on partner mobile apps, the company said in an e-mailed statement. The system enables the application’s own payment processor to complete the transaction, not Facebook. The test will start with one or two partners, including men’s retailer JackThreads.
Facebook, based in Menlo Park, California, is rolling out features that make it more efficient for its 1.15 billion users to make online purchases as it searches for new ways to attract members and keep them engaged. Last year, the company unveiled a gift-giving service that lets people buy and send items to friends without leaving the site.
Facebook shares fell less than 1 percent to $36.56 at the close in New York. The stock has gained 37 percent this year.
