Facebook trials ‘Buy’ button to grab sales (Wired UK)

Facebook is testing a new “Buy” button that would allow users to
make purchases without leaving the website.

The announcement follows moves by other social media platforms
to integrate purchases in an effort to find new revenue streams. In
May, Twitter and Amazon announced AmazonCart, which
allows you to add products to your Amazon basket by replying to a
tweet with “#AmazonCart”

Facebook’s Buy button will appear on advertisements and posts
from Pages and would “help businesses drive sales through Facebook
in News Feed and on Pages,” the company said in a blogpost yesterday.

The blogpost doesn’t offer any details on what kind of cut
Facebook would take from such purchases, but for in-game purchases
on Facebook games the social network currently takes a 30 percent

Earlier this month, in a similar move to yesterday’s
announcement, Facebook
began allowing in-game purchases to be made from advertisements in
the News Feed or in the sidebar
, in what have been dubbed
“Out-App Purchases”.

Those Out-App Purchases are only available on desktop, whereas
Facebook’s Buy button will be on mobile also.

For Facebook, the move is a no-brainer — it charges for the
placement of the advert but then also takes a second cut on the
purchases made from that advertisement. The promise for retailers
is that the added convenience will make people more likely to
complete a sale after seeing an advert.

“None of the credit or debit card information people share with
Facebook when completing a transaction will be shared with other
advertisers,” reads the blogpost, which notes that the feature has
been built with “privacy in mind”, acknowledging perhaps that
people may not be entirely comfortable sharing their bank details
with Facebook as well every other facet of their lives.

At the moment, the feature is being trialled with “a few small
and medium-sized businesses in the US”.

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Source: wired.co.uk

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