Facebook has teamed up with online transaction networks PayPal, Braintree, and Stripe, in order to help simplify e-commerce. The service, called “Autofill with Facebook,” will provide an easy way to fill in contact details including a user’s name, address, phone number, etc. The service is currently being offered through these payment networks, whose clients can then integrate it into their apps or mobile websites, according to TechCrunch.
When a user begins to check-out on a mobile app, a button will appear allowing them to autocomplete their information from Facebook. The service is primarily designed for users who have stored their credit card and billing information on Facebook already. Once selected, users will just need to choose a shipping address, then Facebook will verify the details and securely transfer the information to the mobile payment company. Only the last four digits of a user’s credit card will be visible onscreen.
Whether or not the service will succeed will depend almost entirely on how comfortable consumer’s feel storing their credit cards and financial info on Facebook. If it does take off, the service would give Facebook not only a new trove of data on user behavior, but allow the company to better calculate their advertising’s return-on-investment. This could in turn play a crucial part in increasing their mobile ad revenue.