Facebook Mobile Payment Service in Experimental Phase

Facebook has plans to test an online payment service that would simplify making purchases on mobile apps, according to AllThingsD.

Users would make purchases on their mobile devices by using their Facebook login details, according to sources familiar with the social network’s plans.

The move would enable users to make purchases on partner apps using credit card details they had already supplied to the social network giant. It would also bring Facebook into competition with PayPal, among others, which has a growing mobile business.

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