Is Facebook Trying to Compete With PayPal Next?

New payment product could cut into PayPal's market

Rumors are flying around the tech world that Facebook has plans to test a new payments product that would allow online shoppers to make purchases on mobile apps using their Facebook login information, errily similar to what PayPal is doing these days.

The product allows shoppers who have previously provided Facebook with their credit card details to make purchases on partnering e-commerce mobile apps without entering billing information, putting the social media giant in position to enter the touchless/contactless payment movement that is trending right now. To read more, click HERE.