When making purchases on mobile applications, Facebook users will be able to use payment details added to their Facebook accounts to automatically fill in forms.
“This product is simply to test how we can help our app partners provide a simpler commerce experience,” Facebook’s spokeswoman Tera Randall commented in a statement.
Randall also mentioned the firm’s “great relationship” with PayPal, one of the biggest processors of online payments, who will be taking part in the new scheme.
With over a billion members, half of whom log into the social media site every day, more and more advertisers are looking to make use of Facebook, whose potential customer pool is attracting the interest of brands from all over the world.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.