Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
Stripe has always in the business of making digital and mobile commerce for startups easier. But lately it has been processing payments from some companies that have long since graduated from startup status. Stripe is the company behind Twitter’s new in-stream “Buy” button, and Re/code revealed on Thursday that it is also pulling the levers on Facebook’s similar buy button, which is currently in trials.
Stripe confirmed to me on Friday that it is indeed the sole payment processor behind the [company]Facebook[/company] trial, which essentially puts a shiny Buy-Me-Now! button right into ads and sponsored posts in the news feed. According to Facebook, the trial is limited to a few small and medium-sized business advertisers in the U.S. (I’ve yet to see the Buy button in my own feed, though I’m a casual Facebook user).
Assuming Facebook takes the trial to full commercial launch, this would be a big fluffy peacock feather in Stripe’s cap. The amount of traffic Facebook could drive to Stripe’s payments processing platform is potentially enormous.
Stripe may have the exclusive on the purchasing feature, but Facebook is working with Stripe’s competitor Braintree on other projects as well as Braintree’s new parent [company]PayPal[/company]. Braintree is the in-house payments processor for Facebook’s app developer program FbStart, and it and Stripe are both powering the Facebook’s Autofill feature, which automatically loads Facebook-stored credit card credentials into digital payment forms.