Facebook is rumored to be working on joining mega-tech companies like Amazon, Google, and PayPal, with launching its own mobile purchasing program. Supposedly, FB is now in the limited test phase of providing their pay platform to the hundreds of millions of its users on their smartphones.
Of course, if this mobile payment solution exists, the way it would work is Facebook would offer shoppers more convenience when it comes to purchasing things. This is done by FB storing folks credit card information within their accounts, only if the said user allows Facebook to to store it. Once someone’s credit card is saved, it can then be used in a one-click mobile buy, because all the billing information will be stored away. Facebook’s first partner in this program is JackThreads, a popular men’s clothing company.
That being said, this is all speculation, and Facebook is said to be only running this mobile payment system as an experimental pilot test. On it’s surface, it sounds like a good idea. However it would raise more questions from users who already distrust Facebook on privacy matters, especially in light of all the NSA government spying going on.