Facebook Inc (NASDAQ:FB) is known for making frequent changes to the features on the social networking site, and once again we have news coming of a significant change it has made. Now, the social networker is testing with the facility of paying for the goods or services that you buy from other e-commerce businesses while remaining logged in on Facebook page or the app.
Facebook making convenient for users
The company has made available this feature to few small and medium-sized businesses in the US for free, but there is a high probability that they would need to pay for it in future. For a short span of time this new ‘Buy’ button will be tested by the company and would appear on the News Feed Pages posts and ads.
The new ‘Buy’ feature on Facebook Inc (NASDAQ:FB) makes online shopping a pleasurable experience for the users without requiring them to go through the tedious process going to the merchant’s official website and logging in before they could finally make the purchase. Now, users can complete the entire buying process within the Facebook itself and it is expected that this will do wonders for the retailers by boosting their sales as the conversion rate would go up and in turn more and more retailers would be tempted to use the services offered by Facebook.
Will it be continued?
The results of the test will make Facebook decide if it would want to continue with this feature or not. The feature will be rolled out by the company if the test results are as per the company’s expectations allowing Facebook Inc (NASDAQ:FB) to make money either through charging a fee from the retailers or asking for fraction of the revenue generated by the sales initiated through the service.. The credit card info that will be collected by Facebook while the users make purchases could, also, be used for other initiatives related to commerce.
However, Facebook said in a blog post that users credit and debit card information will be preserved and won’t be shared with other advertisers,
When completing a transaction through Facebook, users’ credit- or debit-card information won’t be shared with other advertisers, the company said.
‘‘We’ve built this feature with privacy in mind,” the social networker said.