News Column

Facebook tests 'buy' button for online purchases in US

July 18, 2014

ANI



Washington, July 18 (ANI): Social networking website Facebook is testing a new feature that lets users 'buy' items from advertisements shown on the page.

Facebook believes that this feature will help merchants as well as users, as it would be easier for them to get products they want in a simpler way.

Instead of sending users to a merchant's website, Facebook will take care of the purchase within its network. When a user presses the 'buy' button, a third -party processor handles payments. It's currently testing the feature for 'a few' small and medium-sized US businesses, CNET reported.

Facebook posted in a blog that they have built this feature with privacy in mind, and have taken steps to help make the payment experience safe and secure.

It added that none of the credit or debit card information people share with Facebook when completing a transaction will be shared with other advertisers, and people can select whether or not they'd like to save payment information for future purchases, report said.

Facebook's attempt seems more closely tied to advertising than other services. It says there's no revenue-sharing requirement. The website is acting as a conduit for the transaction between the consumer and the retailer, the report added. (ANI)


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Asian News International


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters