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Ecommerce

Facebook tests 'Buy' button for ecommerce, following Twitter's footsteps

Monday 21 July 2014 | 10:26 AM CET

Facebook is currently testing a ‘Buy’ button that will enable users to purchase goods from merchants without leaving the app.

Facebook is testing the new button with a selected few small and medium-sized merchants in the US, but it will not charge any fees to test this new Buy button on their News Feed Pages posts and ads. The button will be available to both mobile and desktop users, who can use their credit cards (registered with Facebook) to purchase goods.

Facebook will not pass on any user transaction details to advertisers. Users can also opt to not save any information of the payment transaction on Facebook. Facebook`s initiative is similar to the ‘Buy Now’ button that Twitter is reportedly testing. Twitter has also announced that it has expanded its ecommerce infrastructure by acquiring mobile payment infrastructure CardSpring.

According to market research company eMarketer, global B2C ecommerce sales will jump by 20.1% to USD 1.5 trillion in 2014. This is expected to hit USD 2.4 trillion by 2017, which presents a significant growth opportunity for both Facebook and Twitter.

More: Link
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