Facebook recently announced during its F8 Facebook Developer Conference that its priority goal was to speed up eCommerce purchasing and we can reveal the goal has been met. Following the social media giant's introduction of payments through Facebook Messenger, which was initiated last month, a new concept which makes paying for something as simple as 'liking' it, has been announced.

facebook payments

 

The new purchase, called 'FacePay' method features a 'fee-free' password protected system that allows you to connect your desired purchase to your account and stores your transaction history for quicker future purchases. The new technology mirrors the way that PayPal or a local online banking system works, with extra features such as 'auto-fill', which automtically enters all of your previously entered billing and shipping info from memory. A 'buy now' button also features, and allows for speedy purchases direct from Facebook's advertisements and commerce ads.

By creating these new functions Facebook can speed the whole online purchase process up and relinquish the unnecessary steps that could allow the opportunity for the buyer to change their mind or give up on the payment.

Facebook has also strengthened its relationship with merchants on Facebook, connecting with the personalised shopping search engine 'TheFind', which tunes relevant products to users. For example if a user has shown interest in bicycles or cameras by 'liking' or clicking on an advertisement showcasing such items, then this user's ad feed will drive a range of ads that correspond with their preferences. 

facebook payments

FacePay is expected to launch soon – Buro 24/7 Middle East will keep you posted...