Facebook is all about sharing, communicating, networking and marketing. Whether you want to get noticed, get a job or get connected, there is so much that you can do using Facebook. And now purchasing is also possible. Facebook is expected to release a new mobile payment feature to enable users to make purchases simply by logging into a retailer’s app with their Facebook credentials. However, this feature would be only available to those users who have already provided their credit card information to the social networking site for buying game-related products or gifts. Currently in the testing phase, initially, this mobile payment system will partner with only one retailer- JackThreads.
All set to give a tough competition to an established name like PayPal, the prime intend behind this initiative is to get a larger foothold in e-commerce and also know what majority of the users want to purchase from advertisers. This facility by Facebook will enable users to complete a transaction mere by clicking an extra button. On the other hand, it will further help businesses who already have a page on this highly popular social networking site turn their likers to potential customers.
However, the only major hurdle Facebook has to overcome before rolling-out is mobile payment system is security. Most Facebook users are already aware of how any social networking site collects and uses personal information and convincing them to provide their credit card information can be quite a challenge. And if Facebook wants to garner success, the social networking site will have to make sure to keep the privacy and other credential information of the buyers completely safe and secure.