Report: Facebook testing service for online payment
Is Facebook prepping a service to take on PayPal?
According to an All Things D report, the social network is testing an online payments service tied to the user’s Facebook login. The report cites “sources familiar with the company’s plans.”
Under the service, users who have added credit card information to their Facebook accounts can make purchases at mobile retail partners without entering additional data.
The report arrives as Wall Street appears to have fallen in love with Facebook stock following a rosy earnings report last month. Shares of the social network have returned to their original value when the company’s initial public offering first launched.
Facebook stock currently sits at $36.59 in pre-market trading.
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