Payvment to shut down social commerce platform, direct customers to Ecwid after being acquired by Intuit

Social commerce platform Payvment today announced it will be ending service on Feb. 28, after nearly three and a half years of powering Facebook storefronts through which users could buy items from merchants.

Payvment will refer its merchants to transfer their Facebook stores to another social commerce platform, Ecwid. Payvment says it has sold to another company, but it has not announced which one. It denied that it was being acquired by Ecwid, saying that deal is just a solution for its merchants.

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