- As previously reported, Facebook's (FB) mobile payments autofill solution won't handle payment-processing on its own, but will simply autofill billing info for 3rd-party sites/apps with the help of data already provided to Facebook (via Facebook Payments, should a user have relied on it). Payment processors take over from there.
- PayPal (EBAY) is one of the processors acting as a launch partner. So are two of its rivals, Braintree and Stripe. The WSJ just reported PayPal is close to buying the former.
- To the extent the service makes it easier for mobile users to pay through a PayPal rival, it could still serve as an indirect threat to the online payments giant. That, in turn, arguably bolsters the case for acquiring a company such as Braintree.
- For now at least, Facebook's main goal with the product appears to be the gathering of additional purchase data (previous), which it could later use to deliver targeted ads.
Facebook launches payments autofill tool; PayPal, Braintree on board
Sep 23 2013, 19:21 ET