Both Facebook and Twitter will be powering their e-commerce initiative through partnerships with payments startup Stripe.
Re/code reported yesterday that Facebook would use Stripe to build out the functionality of its new “buy” button. The feature would allow users to directly purchase an item they see in a Facebook ad without leaving the Facebook site.
This makes Stripe one of the hottest startups in the tech world right now, as its striking up deals with some big names outside of Facebook too.
Re/code’s Jason Del Rey reports:
With Twitter, Stripe is also powering the network’s in-feed commerce initiative. This means users can make purchases without leaving their Twitter stream. Stripe is also a “highly recommended” payments partner for Apple Pay, the company’s new mobile payments system unveiled earlier this month that lets people buy physical goods sold in apps with the payment card they have on file with Apple
All these payment developments could herald a big change for the way mobile is being used. While people are beginning to spend the majority of their time on mobile, they’re still making the most of their online purchases on desktops and tablets. By making mobile payments easier through purchasing on their apps, Facebook and Twitter could jump start a boom in mobile e-commerce.