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Facebook is Testing ‘Buy’ Button and Twitter Acquires Payments Startup CardSpring

Facebook

The social behemoth is testing a new ‘Buy’ button that will let users purchase products without leaving the site. If launched, brands can use this feature to drive sales from News Feed and their Pages.

Users can now click the ‘Buy’ CTA on ads and Page posts and purchase directly from a brand. Facebook is Testing 'Buy' Button

Facebook assures users of privacy when using this feature. It says that it will not share with advertisers any of the credit and debit card information users share with Facebook. Users can also select whether they would like to save payment information or not.

This test is being run with a few small and medium-sized businesses in the US. Facebook says that it will share more information after receiving feedback.

This feature will allow for more Facebook-driven sales since users don’t have to leave the social network to make purchases. Often, the need to leave the site deters users from purchasing from social networks. If implemented, the ‘Buy’ button can increase sales for brands thereby driving better Facebook ad ROI while making it easier for users to shop on the site.

Twitter

The social network is in the news again, this time for the acquisition of payments infrastructure startup, CardSpring.

This move by Twitter is being seen as an effort to strengthen its e-commerce offerings to increase revenue. CardSpring lets developers build applications for credit cards, discount coupons and other payment systems. Users can collect sales offers, sync them with credit card and collect at stores later.

CardSpring can help Twitter boost ‘on the spur of the moment’ purchases. As soon as users spot great offers on Tweets, they can immediately purchase with CardSpring’s technology. Along with breathing life into Twitter’s revenue, this technology can also set up Twitter as a name for impulse purchases. This feature will also help users cash in on quick, on the spot deals.

Team Position2

July 18, 2014

By Team Position2