Facebook reportedly testing mobile payment platform

In what AllThingsD calls a potential PayPal competitor, the site reported that Facebook is testing a mobile payment platform that would allow users to make purchases on mobile apps, using Facebook as their login mechanism.

If you’ve already provided Facebook with your credit card information, such as through a Facebook Gifts purchase or games payment, that would be stored and used during a purchase on a separate mobile app. Facebook confirmed the test to AllThingsD, noting that it should arrive in the next month or so.

Doing this would allow for a seamless purchase experience, where the user does not have to enter credit card information.