Facebook partnered with online payments startup Stripe Inc. to develop “buy” button. This call-to-action button allows users to purchase the products, which are advertised on the network directly from the sellers. Testing for the project already started in the month of July.
Stripe is a one of the small group of companies that has also partnered with the rival, Twitter, for a similar buy button. Twitter has also started testing its own “Buy” button to expand the area of its service and offer more features to the users. The button has already been integrated into tweets, which allows users to make purchases directly on Twitter and also through the mobile app.
The micro-blogging site is portraying itself as a one-stop social media shop for users who prefer not to switch to retail store sites if they want to buy the product. According to press resources from the company, “Stripe is 155 people and headquartered in an old trunk factory in the Mission district of San Francisco,” which was founded by John Collison, Patrick Collison. “The company has received $130 million in funding; investors include Sequoia Capital, Peter Thiel, and Elon Musk.” With Stripe, you can charge almost any credit or debit card:
U.S. businesses can accept Visa, MasterCard, American Express, JCB, Discover, and Diners Club.
Australian, Canadian, and European businesses can accept Visa, MasterCard, and American Express.
This is not the first time for Stipe to work with Facebook. Earlier, Facebook partnered with Stripe and Braintree on a separate project, which enables the users to auto-fill the payment information from Facebook profile using a third party application. They also offer an integration with the upcoming Apple Pay.
In addition to it, the company partnered with the Chinese giant Alipay, which is the most popular online payment method in China. “We are building a universal platform for internet commerce; in order to enable China’s 1.3 billion people to buy from Stripe businesses, we decided to add support for Alipay.” Christian Anderson, a spokesperson from Stripe, said in a blog post.