In a partnered venture with Stripe, PayPal, and Braintree, Facebook addresses billing in mobile commerce.
According to Tech Crunch, Facebook is beginning its final month’s test for “Autofill with Facebook” for the elimination of typed billing on mobile commerce apps.
Facebookers who have plugged-in their payment details will be able to able to check out to ‘Autofill Your Info”, listed in payment options as ‘Check out faster with Facebook.’ Currently available on the iOS e-commerce apps of two particular merchants: JackThreads (clothing) and Mosaic (photo book-buying), whose payments will be dealt with by Braintree and Stripe respectively.
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PayPal (who is reportedly about to acquire Braintree) plans to get on board with Facebook but has not yet implemented integration.
The question around Facebook’s future in the payment industry remains unanswered but the social networking platform has indicated that it is not competing with payment processors but rather, helping them and e-merchants to earn more money.
To Tech Crunch, about working with payment processors, Deb Liu, Facebook payments product manager said: “We’re all trying to solve the same problem: helping devs monetize and convert. The more conversions, the more payment volume that goes through Braintree, Stripe, or PayPal [and they make their fee that way].”
She continued to explain: “Mobile is where the conversion gap is, where our customers are going in the future. It’s really important to make this an amazing mobile product. That said, we don’t rule out ever doing this on desktop some day.”