Snapchat was on to something when it filed two trademarks that allow it to get its foot into the mobile payments space. But Facebook’s one step ahead of it and is following the footsteps of Twitter in its recent announcement.
The social media conglomerate has announced plans to include a new feature on its website and mobile app that will enable you to purchase items from other businesses that you see on its suggested posts immediately off Facebook.
This means all you’ll need to do is click or tap on the buy button and complete the purchase process. You can even save your credit card details on Facebook’s files for future use, or if you don’t trust it, you’ve got to key it in everytime you checkout without having Facebook store your payment info.
Facebook has claimed that the feature is safe and private, as it won’t be handing over your personal details on to the advertisers (or so it says).
If the online payment inclusion becomes a hit for Facebook, we could see it earn more money through conversion rate fees, or with advertisers. Whatever the case, it is still currently only in its infancy stage of being tested and not rolled out for good – yet (although we do question Facebook’s motives for doing this).
Now, we wonder if Pinterest or any other social media sites will also jump on board this bandwagon and release a similar feature that lets you buy stuff straight off it. It could be a possibility, we never know.
[Source and image: TechCrunch]