Social Media Newsfeed: Facebook Mobile Payments | Twitter Local Trends

Facebook to Test Mobile Payments Product (AllFacebook) Move over, PayPal: Facebook confirmed a report by AllThingsD that it will test a new payments product that will allow Facebook credentials to be used by users completing transactions on mobile applications. Sources told AllThingsD Facebook users who have previously supplied their credit card information will be able to complete purchases on partnering apps without being required to re-enter their billing details.

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Facebook mobile paymentsFacebook to Test Mobile Payments Product (AllFacebook)
Move over, PayPal: Facebook confirmed a report by AllThingsD that it will test a new payments product that will allow Facebook credentials to be used by users completing transactions on mobile applications. Sources told AllThingsD that Facebook users who have previously supplied their credit card information will be able to complete purchases on partnering apps without being required to re-enter their billing details. AllThingsD Thrillist-owned JackThreads, a flash-sale shopping site for young men, is the pilot partner. The company has a strong relationship with Facebook, sees a good chunk of revenue come through mobile phone purchases and may also have a decent demographic overlap with one particular segment of Facebook users — gamers — who would have provided the social network with credit card information. It will be interesting to see if Fab, another close partner of Facebook’s that does well on mobile devices, will follow suit. TechCrunch Facebook is testing a way to make paying with a credit card easier, but it works with PayPal, not against it as AllThingsD wrote. The feature pre-fills credit card and billing info for making easier purchases through PayPal, Stripe, Braintree or other payment processors in third-party mobile apps. It’s not a payment processor itself, but it help Facebook prove the ROI of its ads. Forbes Regardless of whether Facebook is conducting the actual payment processing, this is a major move for Facebook. First, it provides benefits of higher conversion rates for advertisers and app developers. Secondly, it moves Facebook more in between e-commerce transactions, something that it has more trouble doing on mobile because of the App Store and Google Play. CNET “By understanding what consumers ‘like’ and discuss on the platform, Facebook understands much about their propensities and inclinations,” Altimeter Group digital advertising and media analyst Rebecca Lieb told CNET. “But…actual spending data — knowing what people buy — breaks opens the possibilities of advertising, targeting, and messaging in ways that are extremely precise, valuable, and meaningful to advertisers.”

Twitter Testing New Trending Local Events Feature for iOS (VentureBeat)
It looks like Twitter is once again experimenting with new features on its iOS app, this time with one that highlights local events that are happening around you. The new feature, which was spotted by TechCrunch Thursday, comes a day after Twitter started testing a trending TV show banner feature that sits at the top of a user’s timeline.

Springpad Adds Content from Real Simple, Bookish.com; Hires New CEO (SocialTimes)
Users of Springpad, the mobile personal assistant app, will soon have access to content from Real Simple and Bookish.com. Springpad consists of a website, iPhone/iPad and Android apps, where you can organize and save videos and photos, tasks, products, notes, checklists and ideas. It also provides “relevant” recommendations.

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Google Again Disables YouTube App for Windows Phone, but Microsoft Says it’s Just ‘Excuses’ (The Next Web)
Microsoft released a statement saying that the repeated disabling of the YouTube app is “frustrating” for customers. David Howard, the company’s corporate vice president and deputy general counsel, said that when Google says that Microsoft wasn’t abiding by the “terms and conditions,” it was in reference to the fact the app wasn’t based on HTML5.

Vote for the MTV Video Music Awards Using Vine, Twitter or Instagram (AllTwitter)
For the first time ever, music fans can vote for MTV’s Video Music Awards using Vine videos and hashtags. Leading up to and during the Aug. 25 ceremony, social media users can weigh in on the Best Song of the Summer category using Vine, Instagram and Twitter.