Facebook unveiled its Buy button in July. While still in the testing phase, the feature enables businesses to sell goods and services directly from Page posts and ads. Users can simply click and buy right from a Facebook update.
Re/code is reporting, and has confirmed with both companies, that the feature is using payment technology from Stripe, which is the feature's sole partner so far.
Here's how Facebook described the feature in July:
With this feature, people on desktop or mobile can click the “Buy” call-to-action button on ads and Page posts to purchase a product directly from a business, without leaving Facebook.
We’ve built this feature with privacy in mind, and have taken steps to help make the payment experience safe and secure. None of the credit or debit card information people share with Facebook when completing a transaction will be shared with other advertisers, and people can select whether or not they’d like to save payment information for future purchases.
Rival Twitter recently announced its own buy button, which is also in the testing phase and also counts Stripe among it partners.
As Re/code points out, Facebook has worked with Stripe in the past on a payment autofill feature. Facebook also works with Braintree in other areas.
There's still no word on when the buy button might become generally available. It could become a major force in mobile commerce once that happens.
Image via Facebook