The mobile payments product test Facebook confirmed last month is going live on a small scale Monday night, with pilot partner men’s apparel site JackThreads joined by photo-book provider Mosaic on the shopping application side and by payment processors PayPal, Stripe, and Braintree.
Move over, PayPal: Facebook confirmed a report by AllThingsD that it will test a new payments product that will allow Facebook credentials to be used by users completing transactions on mobile applications.
Former Facebook Director of Engineering Ari Steinberg, who headed the social network’s Seattle office, left the company last October, saying that he planned to launch a travel startup. That travel startup is Vamo, which raised $1.6 million in capital, according to TechCrunch.
Many Facebook users post photos of new big-ticket purchases such as houses, boats, and cars. Unfortunately, some of those Facebook users are being less than truthful with credit bureaus and other financial firms about their incomes and assets. And those companies are starting to examine Facebook more closely, Bloomberg reports.
No, I didn’t receive an email from Princess Zuckerberg asking me to save her family fortune from the hands of the rebel forces. This is not the typical Nigerian 419 scam. In this version, Facebook is unknowingly misleading its advertisers about its vaunted targeting abilities. If you buy ads targeting the U.S., it is now very likely that you are getting traffic from Nigeria and other parts of Africa, as well.
Now that Facebook Credits have been nixed as the official currency of Facebook games, the company took some time Tuesday during the Game Developers Conference in San Francisco to explain how the new system of local currency makes in-game purchases easier for all parties. Now, game developers have full control over what they charge users in different countries, and users can see rounded price points instead of always-changing conversions.
Although Facebook commerce platform Soldsie works by allowing brands to process purchases within the comments section of the social network, the $1 million in seed funding it announced Wednesday did not come via comments, but from a group of institutional investors.
Since 2010, PayPal has been one of the main methods of payment for Facebook developers. But as Facebook grows, the company is changing its PayPal policies for new developers in emerging markets, such as China, Brazil, and India. According to TechCrunch, developers in several countries must show extra identification as a means of authentication, such as photo IDs or incorporation papers, in order to be paid via direct deposit.
Social commerce platform Payvment announced Thursday that its Lish.com product discovery destination, which launched in beta in August, is now open to the public, complete with a new feature for its clients on the retail side: branded seller storefronts.