Facebook to test mobile payment service

Social media giant Facebook is reportedly working on a small test for a new mobile payments service that would allow users to link their financial account details to the site and make purchases on apps using that information.

Social media giant Facebook is reportedly working on a small test for a new mobile payments service that would allow users to link their financial account details to the site and make purchases on apps using that information.

Facebook said that there is no set schedule for providing the services to users and the service would use payment information that shoppers store on Facebook to automatically complete checkout forms of certain mobile apps and then the app would process the purchase, News.com.au reports.

The report added the social giant saying that it has a great relationship with online payment service PayPal; however, its own service will not involve moving away from an app's current payment provider like PayPal.