Today more than ever, consumers care about their privacy and the security of their payment information.
With questions lingering about the safety and stability of social networking platforms, some ecommerce experts and analysts are wondering if the masses are ready to view Facebook as a safe channel to do their shopping.
As MMW reported Thursday, Facebook is rumored to be testing a mobile payment solution. This is just one part of a much broader effort that could see Facebook attempt to enter the ecommerce arena to a major extent later this year.
Speculation about a looming announcement from Facebook regarding this matter ramped up today as the social networking giant was confirmed to be part of eCommerce Expo 2013, the UK’s premier event dedicated to all aspects of selling online.
This year’s event will feature keynote addresses from Facebook, Twitter, Google, PayPal, Visa Europe and Nectar.
Facebook’s Director of Sales for UK & Ireland, John Lamphiere, will reportedly talk about how companies can utilize and monetize social media.
So, if Facebook gets into the ecommerce game, what will be most important? Peace of mind for consumers when it comes to the security of inputting their payment information.
All told, it’s the same concern for every ecommerce provider – security, security, security. It is, without question, essential for businesses that run ecommerce sites to know that their credit card processing company is reliable, compliant with regulations, and up to date with industry leading safeguards.
“A company that has been in business for many years is a good indicator that they have been conducting business in a reputable manner,” says North American Bancard, a payments solution provider well known for its security prowess. According to NAB, customers that trust you will open their wallets to you time and time again.
For Facebook, one of the biggest challenges will be to convince online shoppers that their platform is, indeed, safe and reliable. If they can achieve that, Facebook could see a massive new source of revenue for 2014 and beyond.