Author Topic: Facebook Makes Moves in E-Commerce Purchasing  (Read 162 times)

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Facebook Makes Moves in E-Commerce Purchasing
« on: Oct 05, 2013, 07:31 PM »
 You may have noticed recently the ability to purchase gifts for your friends on your birthday or other purchasable rewards to commemorate an engagement, graduation or other special occasion. This new feature has caught on big and has made Facebook executives rethink their standing efforts regarding e-commerce purchasing.

It was leaked that Facebook is currently working on an application similar to PayPal and at first it was rumored this would be the third party app of choice. But new reports describe a testing phase that Facebook technology leaders saw will be the next big thing for them in service offerings. The new payment feature will have an auto fill feature that will populate a users' credit card information should they come to a payment confirmation page.

Facebook already allows users to input their billing and credit card data when making payments using third-party applications. Facebook then extracts payment information from data that is stored and associated with specific user accounts.  For Facebook users that have purchased Facebook Gifts or made in-game purchases on Facebook, this feature is the next best thing in online purchasing and convenience. After granting permission, filling in the info is only a few clicks away as opposed to reentering all of a person's credit card and personal information to make a purchase. This will also make it easier for people to make a purchase when deliberating; the work is done for you. Facebook is realizing the advantages of saving payment information for ease of purchase.

Facebook wants to make it clear that it is not rebranding itself as a payment processing entity and does not have any desire to replace or compete with PayPal. Like any business, the goal is to make it easier for users to make purchases and spend money.

Facebook is more interested in gaining insight into the effectiveness of Facebook advertisements. Moreover, how effective the advertisements on Facebook lead to actual sales and the degree to which companies get their ROI from advertising on Facebook. Facebook measures and has found convincing information about its advertising effectiveness and is using that data to market and grow their advertising efforts and clientele.  

 

Facebook seeks to be a means of payment for purchasing things using mobile, commercial applications. The social network plans to create the ability to pay simply with Facebook login credentials the same way PayPal functions. The pilot is expected to launch sometime in the next month. 



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Facebook Makes Moves in E-Commerce Purchasing
« on: Oct 05, 2013, 07:31 PM »