Facebook Share Price: Tests to Start of New Mobile Payment Feature

on Aug 16, 2013

iNVEZZ.com Friday, August 16th: Facebook (NASDAQ:FB) is planning to expand its services portfolio by providing a new mobile payment feature via which it will be able to facilitate sales over the social network, BBC reported today.

Facebook is about to start testing the new feature, which will be automatically filling forms when users make purchases via mobile applications. The feature will use payment details which users will add to their Facebook profiles. However, the payment processing will not be moved away from an application’s current service provider.
The BBC quoted Facebook’s spokeswoman Tera Randall as saying: “This product is simply to test how we can help our app partners provide a simpler commerce experience.”

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Jason Del Ray and Mike Isaac of the All Things D website expect increased competition between Facebook and digital payments giant PayPal once the new product is launched. Randall, however, described the relationship between the two companies as “great”.
Menswear online shopping site JackThreads will be Facebook’s partner for a pilot programme for testing the new payment feature for mobile devices, All Things D reported. Should Facebook launch the new feature, it will be able to track the number of its users actually purchasing items from partner applications, analysts have said.

There are, however, concerns about the extent to which users will be willing to put their financial information into the hands of the social network. BBC quoted Denee Carrington of Forrester Research as saying: “Consumers want safe, seamless and convenient mobile payments and there are a growing number of competitors that consumers trust more, such as PayPal, Visa and others.”

**Facebook Not Good for Users, New Study Claims**
A new study just published by the Public Library of Science has found that the more someone uses Facebook, the less satisfied he is with life, The Economist has reported.
It has been long argued that the social network has a negative impact on users’ emotions, causing feelings of jealousy, social tension, isolation and depression, but the causal relationship has been hard to prove.

The new research was conducted by Ethan Kross of the University of Michigan and Philippe Verduyn of Leuven University in Belgium among 82 young Facebook users. Their Facebook activity was observed for two weeks, during which they had to report their feelings five times a day.
After analysing the results the two researches have concluded that the periods of most intensive Facebook usage are associated with declines in satisfaction, while direct personal interaction provoked positive feelings.
**Facebook’s share price was at $36.56 as of 16.08.2013, 10.52 BST.**


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