Facebook Inc (NASDAQ:FB) is functioning with payment processors and app developers to make the purchases online via mobile easier and faster. On Monday, the website has released a new option named “Autofill with Facebook” in partnership with Braintree Payment Solutions, Stripe to e-commerce sites Mosiac and JackThreads and eBay’s (NASDAQ:EBAY) PayPal. This will let the users’ autofill shipping and payment information from their Facebook profiles only which will save their time by typing the entire information again and again into a tablet or a Smartphone.
The TechCrunch report denies the fact that the services have announced any competition with the PayPal or Braintree or eBay. Though it was stated earlier that Facebook wants to challenge the services of PayPal, but now the website seems to be settled for collaboration. The deal will keep on generating the processing fees for Braintree, Strip, and PayPal that Facebook believes the consumers will be more likely to make the purchases because the autofill feature will basically reduce the process of buying to one click. This will prove to be a great feature for them.
Some have also made it a point that it does not mean that Facebook will stop trying to challenge the payment services like PayPal eBay’s in future. Once this social networking website gets enough information about the credit cards of its users, it would be able to start its own payment processing services and acquire its cut from the mobile services.
Some of them have criticized such desires of Facebook to have a control over the card information. It would be tough for any user to trust on the site in order to share such secretive and sensitive information after receiving such a statement. But, TechCrunch cleared the fact that Facebook has a neat and straight track record in terms of security.