Facebook tests mobile payments tool

Facebook is planning to test a mobile payments feature which will automatically fill in payment details when purchasing on mobile apps

Facebook is planning to test a mobile payments feature which will automatically fill in payment details when purchasing on mobile apps.

The social networking giant will be able to take payment details from users who have added them to their Facebook account. These will then be automatically generated into forms when purchasing on a mobile device.

Facebook would not handle the payment processing – that service would remain with the application through services such as PayPal and Braintree.

Facebook said the service was to create a "simpler commerce experience" which would help customers filling in lengthy payment details on a small touchscreen device.

In June, the company admitted that a bug caused the phone numbers and email addresses of six million users to be shared unintentionally. While the bug was fixed in a day, it may lead users to be wary of storing payment details with the social network in the future.

At the moment, the mobile payments industry is very fragmented with no single system dominating the market

A survey earlier this year stated that PayPal and mobile banking apps were the most dominant technology with 64% and 60% of users choosing these platforms to handle their transactions. Google wallet only attracts 11% of respondents, while 10% said they would use QR codes and 7% said they would use Paytags.

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I don't know which company is worse to be honest. I don't even use Paypal Here. When I need a reader I chose mPowa's card reader (http://goo.gl/L03lj) when I joined festivals last year. And facebook is facebook.

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