Since almost everyone has a Facebook and many websites already ask to log in by connecting to it, why not add storing payment information in there as well? Facebook is currently testing a feature for their mobile app that allows users to store their payment data into their Facebook account for faster m-commerce.
The payment data stored into Facebook would allow users to checkout from partner mobile apps easily. They are currently testing it with a men’s retailer JackThreads. Facebook will pull information from users that entered their credit card information from past Facebook purchases like Facebook gifts or Facebook game features. This will save people the time of the tedious typing on a mobile device when trying to purchase something online while on the go.
Many people are skeptical about storing their payment information onto a social network but Facebook reassures people that they are not actually releasing the payments from Facebook itself but from other third-party sources such as PayPal, Stripe or Braintree. Those payment methods on the web are already popular and widely-used. Facebook is only going through testing as of now but by integrating payment information with the Facebook login, purchasing things mobility should be much easier in the future.