Facebook to launch mobile payments pilot

  • Posted by Nicole Muller
  • August 16, 2013 11:20:14 AM BST
Social media giant Facebook has announced it will test a new mobile payments product.

It is believed that the service will be similar to that of PayPal, and will allow shoppers to pay for products with the use of their Facebook login on a mobile app. Those involved in the trial will be able to load their card details onto the social network, meaning that they will no longer need to enter their billing details every time they shop online.

This is Facebook’s latest bid to generate more profit, with the company mostly relying on its advertisements for revenue. It will partner e-tailer Jack Threads for the pilot, which is set to roll out to select consumers within the next few weeks.