Facebook takes on PayPal with mobile payments tool


Facebook is testing a new online payments service aimed at making it easier for users to make purchases on their mobile devices.

The social networking site will let people to make purchases with just their Facebook login on partnering e-commerce mobile apps.

The service would use payment information that shoppers store on Facebook to automatically complete checkout forms of certain apps.

The app would then handle the payment processing, not Facebook.

Facebook confirmed in a statement that it was working on a "very small test" designed to "make it easier and faster for people to make a purchase in a mobile app by simply pre-populating your payment information".

But the company said there was no timetable for making the service available to its customers.
If rolled out, the new payment system would pit Facebook in direct competition with PayPal, as well as e-commerce firms like Braintree.

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