Facebook Tests New 'Buy' Button for Online Purchases

Facebook Tests New 'Buy' Button for Online Purchases
Facebook Inc is testing a new "buy" button on its website that will let consumers purchase products that are advertised on its social network.

The new service, which Facebook described on Thursday as a test with a "few small and medium-sized businesses" in the United States, represents the Internet social networking company's latest effort to play a bigger role in the e-commerce business.

Facebook said its new Buy button will be available on the mobile and desktop PC version of its website and will allow consumers to purchase goods directly from participating businesses.

"None of the credit or debit card information people share with Facebook when completing a transaction will be shared with other advertisers, and people can select whether or not they'd like to save payment information for future purchases," the company said in a blog post on Thursday.

(Also see: Facebook Has Enormous Potential for Growth in India: Ravi Shankar Prasad)

Facebook is not currently taking any portion of the revenue for products sold with the Buy button, a source familiar with the matter told Reuters. Credit card transactions will be handled by a third-party payment processing company, the person said.

Facebook in 2012 introduced a way for its users to buy their friends gifts such as socks and teddy bears. But Facebook stopped selling physical goods through the service after a year, letting consumers buy only gift cards instead.

© Thomson Reuters 2014
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Jolla Sailfish OS Smartphone Coming 'Very Soon' to India via Snapdeal
Google Reports Rise in Quarterly Profit as 'Paid Clicks' Grow

Related Stories

Share on Facebook Tweet Snapchat Share Reddit Comment
 
 

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2021. All rights reserved.
Listen to the latest songs, only on JioSaavn.com