After Twitter Inc (NYSE:TWTR)’s “Buy” button, it is time for Facebook Inc (NASDAQ:FB) to add “Buy” buttonon its social media platform. Facebook Inc (NASDAQ:FB) is to collaborate with payment startup Stripe for introducing payment option.
Facebook Inc (NASDAQ:FB) is rumored to use Stripe for powering its Buy button integrated in the adverts and posts over the network. Facebook has confirmed that Stripe is its partner in introducing the payment button. Later, a spokesperson for Stripe confirmed alliance with Facebook Inc (NASDAQ:FB) in its new payment feature.
Facebook Inc and Stripe have worked together in past to offer auto fill payment information option to the users while using third-party apps. This is a big partnership for Stripe considering its latest streak of partnerships with different tech giants including Apple Inc (NASDAQ:AAPL), Twitter Inc (NYSE:TWTR), and Alipay in addition to the partnership with Facebook. Stripe is one of the main contenders for powering Apple Pay payment system launched by Apple Inc (NASDAQ:AAPL) earlier this month.
Earlier this month, Twitter Inc (NYSE:TWTR) introduced a “Buy” button within its tweets, which allows buyers to purchase a product right away by clicking at the button. One of the primary intentions behind introducing a payment option embedded in Tweets is to stop users from leaving the micro-blogging platform.
Twitter Inc (NYSE:TWTR) has a full-proof security system for encrypting sensitive user information including credit card details and the company will not share it with any third-parties without manual consent of the users. Further, this new buy button embedded in tweets is likely to improve number of transactions happening on Twitter.
One thing is for sure that with multiple tech-giants offering their own payment options to the customers, it is likely to bring down transaction charges in near future.
This article has been written by Prakash Pandey.