Facebook starts rollout of payments feature – Mobile World Live

Facebook starts rollout of payments feature

26 SEP 2013

Facebook this week started the gradual introduction of a new feature that is intended to simplify online transactions made via a mobile device, according to AllThingsD.

The feature is called “Autofill with Facebook” and enables users to speed up the checkout process by storing their address and credit card information on Facebook.

Retail partners will display a drop-down prompt when users reach the payment information screen during checkout. Users can then automatically enter their details via the autofill button.

Facebook named three payment partners for its deployment: PayPal, Braintree and Stripe. eBay has just announced plans to acquire Braintree for $800 million, so effectively the social network is dealing with two payment partners

The social network will slowly roll the new feature out to its base, having previously run a pilot with two apps, Jack Threads and Mosaic.

As well as potentially smoothing the course of transactions, the new feature could put Facebook in a powerful position to deliver users to advertisers and retailers.

Separately, India’s ICICI Bank has launched a banking app for Facebook that enables customers to carry out a range of services, including sending money to other users of the social network.

Other services offered by the Pocket app include topping up a prepaid mobile account, buying cinema tickets and viewing recent bank transactions. Payees do not need to know recipients’ bank account details, just their mobile number or email details.

 

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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