Quantcast
Latest Stories

Facebook to test mobile payments service



Photo shows a sign seen at Facebook headquarters in Menlo Park, California. AP PHOTO

NEW YORK – Facebook plans to test a mobile payments service that lets users make purchases inside mobile applications using payment information they have added to their account on the social network.

Facebook Inc. said Thursday that it is working on a “very small test” and the company says there is no set schedule for making the service available to users. The service would use payment information that shoppers store on Facebook to automatically complete checkout forms of certain mobile apps. Then, the app would process the purchase.

Spokeswoman Tera Randall said in an e-mailed statement that Facebook has a “great relationship with PayPal, and this product is simply to test how we can help our app partners provide a more simple commerce experience.”

The test, she added, won’t involve moving payment processing “away from an app’s current payments provider, such as PayPal.”

Nonetheless, shares of PayPal’s owner, eBay Inc. declined on news of the potential competition. The stock closed down $1.05, or 1.9 percent, at $53.18.

Facebook’s stock closed down 9 cents at $36.56.

Forrester Research analyst Denee Carrington thinks Facebook will face a challenge in offering mobile payments even though the company has been building up its database of users’ credit cards.

“Consumers want safe, seamless and convenient mobile payments and there are a growing number of competitors that consumers trust more — such as PayPal, Visa (V.me) and others,” Carrington said in an e-mailed statement.

News of the test was reported earlier by AllThingsD.


Follow us on Facebook Follow on Twitter Follow on Twitter




Recent Stories:

Motivated LeBron James preps for postseason 11 mins elapsed Enrile chief aide back in PH ‘to face charges’–report 37 mins elapsed Multicultural flock marks Good Friday in San Francisco 2 hours elapsed Pakistan library named ‘bin Laden,’ as memory fades 3 hours elapsed US commerce secretary spells out economic facet of ‘pivot to Asia’ 10 hours elapsed Las Vegas ‘Pinoy Pride’ fest hails Filipino heritage 10 hours elapsed Myx TV premieres Asian American ‘docu-series’ 10 hours elapsed US teacher fired over comment on black president 10 hours elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Facebook , Internet , Online , Paypal , Social network , technology

  • TruthHurts

    Conquer the mobile devices so the entire world becomes one electronic family; the better for the NSA to control every single human in the planet.



Copyright © 2014,
.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement Advertisement
  1. Netizens seethe over Aquino’s ‘sacrifice’ message
  2. Did Deniece Cornejo lambast Vhong Navarro on social media?
  3. Facebook rolls out ‘nearby friends’ feature
  4. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  5. Taylor Swift tries video blogging, crashes into fan’s bridal shower
  6. Filipinos #PrayForSouthKorea
  7. Nokia recalls 30,000 chargers for Lumia 2520 tablet
  8. Tech company: Change passwords or suffer ‘Heartbleed’
  9. Mommy Dionisia Pacquiao scores, takes over social media
  10. DOF: Tagaytay, QC best at handling funds
  1. Did Deniece Cornejo lambast Vhong Navarro on social media?
  2. Mommy Dionisia Pacquiao scores, takes over social media
  3. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  4. Memes flourish after Pacquiao victory
  5. Nude and so dangerous
  6. Netizens react to Pacquiao’s victory over Bradley
  7. IT technician found guilty of defrauding firm of P130,000
  8. Netizens seethe over Aquino’s ‘sacrifice’ message
  9. Philippines may watch ‘blood moon’ online
  10. Online-addicted man arrested over son’s death
  1. #RejectedBbPilipinas2014Questions flood Twitter
  2. Did Deniece Cornejo lambast Vhong Navarro on social media?
  3. Netizens fall in love with Crimea prosecutor Natalia Poklonskaya
  4. Mommy Dionisia Pacquiao scores, takes over social media
  5. Nude and so dangerous
  6. Mommy Dionisia sings ‘Riking Bull,’sends netizens ablaze
  7. Russia tries to curb Crimean prosecutor’s Internet fame
  8. Memes flourish after Pacquiao victory
  9. Why didn’t missing jet passengers use their cellphones?
  10. Netizens thank Capa for Lee arrest

News

  • Enrile chief aide back in PH ‘to face charges’–report
  • Pakistan library named ‘bin Laden,’ as memory fades
  • US teacher fired over comment on black president
  • Magnitude-7.5 earthquake shakes Mexican capital
  • Title of new Hillary Clinton book: ‘Hard Choices’
  • Sports

  • Motivated LeBron James preps for postseason
  • Nadal ousted by Ferrer in Monte Carlo quarters
  • Pacquiao shorts in Bradley fight sold for P1.7M in LA auction
  • Ryu pitches Dodgers past Giants
  • Alonso sets the pace in Chinese GP practice
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Multicultural flock marks Good Friday in San Francisco
  • Las Vegas ‘Pinoy Pride’ fest hails Filipino heritage
  • Marking Jesus’ journey on Good Friday
  • Filipina accomplice arrested for fake bills in Malaysia
  • DoH denies Filipino nurse no longer positive for MERS virus
  • Advertisement
    Marketplace