Facebook is teaming up with PayPal to explore the mobile payments space.
In a bid to tap into the growing mobile payments market, social media giant, Facebook, has announced it is in discussions with PayPal to launch a new mobile payment feature.
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.
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