Facebook to test PayPal rival for mobile, report says
The social network is said to be planning "in the next month or so" to test a mobile-payment service that would let you pay for products via your Facebook credentials.
Facebook is looking to expand its presence in mobile with a new payment feature, according to a new report.
The social network is planning "in the next month or so" to test a mobile-payment service that would allow consumers to pay for products via just their Facebook credentials, All Things Digital reported on Thursday, citing people who claim to have knowledge of its plans.
Facebook's plan is to offer the service to those who have stored credit card information on the social network. Those users can then access e-commerce mobile apps to buy products, and pay for that by simply inputting their Facebook credentials. Facebook's payment service will then make the purchase with the credit card on file. No billing information will be put in by the customer, according to All Things Digital.
Facebook's platform is not to be confused with Google Wallet, which allows customers to make purchases in brick-and-mortar stores with their mobile devices. Facebook's service is designed solely to provide a different way for customers to make purchases in mobile apps; the platform will not handle actual payment processing.
For its part, Facebook hasn't publicly said what its plans are, but the company confirmed to All Things Digital that it will test the service soon. When it does so, the company will partner with male-shopping platform JackThreads to test it out.