Facebook Taps PayPal to Ignite Mobile Apps

Social media feature
What's Next In Payments®
7:00 AM EDT July 3rd, 2014

In a sure sign that Facebook is looking to bring commerce into Facebook, the social network has partnered with PayPal to extend payment enablement (acceptance + processing) to any Facebook mobile app that is accepted into its FbStart program.

FbStart is a program that provides innovators just starting out (Bootstrap) or those more established but need help scaling (Accelerate) with a package of free tools, support and other goodies worth, they say,  $8,000 and $40,000 respectively. Any startup that is accepted into the FbStart program (it is an application process) will now also have access to PayPal’s Braintree platform to payment enable and process up to $50,000 in payments transactions, also for free.

Braintree’s GM of Mobile, Aunkur Arya, said in a post on the Braintree blog, “Together, Braintree and Facebook will give developers the tools they need to successfully build an app, market their product and begin accepting payments.”

As FbStart’s mobile payments’ partner, PayPal and Braintree are hoping that free access to the platform will encourage more developers to embed payments into their apps. And, Facebook is obviously looking to expand the portfolio of apps in its mobile arsenal capable of enabling payment and generating commerce and attract more developers to its platform. Facebook has had a rocky relationship with the developer community over the years given its reputation as a mercurial and even somewhat unstable development platform.

This announcement comes only days after PayPal’s president, David Marcus, left PayPal for Facebook to run its mobile messaging platform. And since it’s probably only a short walk from FbStart to Mobile Messaging at Facebook, we bet word spreads quickly to the mobile messaging team that there’s an easy way for the team to tap into payment enablement should he ever need it.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

 

 

 

 

Comments
Also by This Author
What's Hot
News
Analytics Firm Qubit Picks Up Funding
News
MasterCard Gives Biometrics Start-Up A $14M Boost
Loyalty & Rewards
Google Wallet’s Loyalty Lift
Loyalty & Rewards
Online Marketplace Fashionism’s Rewards Innovation? Cash Rewards
View All Articles ››
You May Also Like
B2B Payments
PayPal Makes It Easy For Businesses To Attach Invoicing Information
B2B Payments
Why B2B Payments Is Ready To Be Disrupted
B2B Payments
What Kind Of Stamp Will VCs Leave On The B2B Payments Ecosystem?
B2B Payments
Credit Junction Pulls In $2 Million Seed Funding
View All Articles ››