Facebook tests new mobile payment form filling service; will not be a competitor to Paypal

Many websites like Allthingsd.com have reported that Facebook is testing a new mobile payment service. However, our market sources, reveal that this is far from the truth. Facebook is only testing a service, which would pre-fill your credit card and billing information to make it easier for you to pay through any payment processor (such as PayPal). If things work out as planned, you could have a button, which says, "Please fill in my payment information". Once, you click yes, then the app could possibly fill in your information, and you could then proceed to pay by hitting the 'Confirm Purchase' option. 

 

Market analysts say that this service will help Facebook improve the ROI of its ads, as more people could proceed to buy things as billing information can be easily put into the form required.