Are you tired of using various IDs for various shopping and e-commerce sites? Well, Facebook is all set to roll out a new system of mobile payment, which is supposed to allow the users to make online purchases in collaborating e-commerce smartphone applications using simply their login IDs that they use for the social networking site. It’s reported that the first online shopping site to partner up with the social networking site is Jack Threads, famous for its men’s clothing collection. The payment system is going to use the credit cards that the network of Facebook has already stored in its system. This will not be a competitor, but fills the gap of being social in payments!
Users have been making use of the Facebook payment system for various purchase purposes within the site like online game credit purchases and online gifts. It has been widely speculated that once the payment system has fully rolled out and is working in tandem with every other thing and has gained enough popularity as well, its popularity and efficiently would soon surpass that of PayPal and other leading players.
The process of spreading out the purchase power of the Facebook users had started early in June this year, when it announced its move to phase out its credit payments system to all games. In the same line, the social networking site also aims to convert all local currencies by the middle of September.
This move towards making real use of real money was initiated in order to make sure that purchases made by various users all over the globe was made easier to comprehend in terms of their home currencies and give them more flexibility.