Facebook mobile payment in testing phase- Will this surpass Paypal.
Posted on: 19/Aug/2013 4:37:16 PM
The good news to Facebook users is that this major social media giant is now planning and testing to incorporate its own mobile payment platform. For this Facebook is currently partnering with shopping apps and will enable user to pay for purchases just using their Facebook username and password.
The service shoppers’ credit and debit card information will be already stored in face book. The user need not enter all the billing information. This service is similar to PayPal, experts say that this service could become a competitor to PayPal. However, Facebook have not designed the program to compete with Paypal, this is one among their innovative initiative. Experts add that face book is seen more as a social and sharing forum and it would be difficult for them to gain attention in mobile payments.
The Facebook spokeswoman Tera Randall says “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,"
Let’s all wait and see whether this endeavor by Facebook will surpass Paypal.
