27 May 2017
Find out more

Facebook commerce outfit Payvment shuts down

28 January 2013  |  5398 views  |  0 Woman figure shopping on top of keyboard

Social commerce outfit Payvment is shutting down its platform and offloading its 200,000 Facebook merchant customers to rival Ecwid.

In a notice on its Web site, Payvment says its platform will shut down at the end of February and that its team is "joining a new [unnamed] company", believed to be Intuit. Companion site Lish.com is also being closed.

Intuit is also understood to have taken control of Payvment's technology and patents, while the now defunct company is telling its users to transfer their Facebook stores to Russia-based Ecwid's platform so that they can continue selling on the social network.

Ecwid - which already serves more than 250,000 merchants - says that its Facebook app enables merchants to add a full-featured store to any page so customers can discover and buy products without ever leaving the site.

Jim Stoneham, CEO, Payvment, has not explained the move but says: "Ecwid's e-commerce technology will not only enable our merchants to keep selling on Facebook, but also allow them the opportunity open up new channels by placing a store anywhere their customers shop online."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Soaring mobile commerce and payments volumes boost eBay

Soaring mobile commerce and payments volumes boost eBay

17 January 2013  |  6173 views  |  0 comments | 6 tweets | 3 linkedin
Facebook performs virtual currency about-turn; abandons Credits

Facebook performs virtual currency about-turn; abandons Credits

20 June 2012  |  8116 views  |  2 comments
Garanti gives cardholders Facebook Credits

Garanti gives cardholders Facebook Credits

03 February 2012  |  6374 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comvisit www.response.ncr.comDownload the paper now

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
13020 views comments | 50 tweets | 79 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7696 views comments | 12 tweets | 24 linkedin
R3 raises $107mR3 raises $107m
6820 views comments | 16 tweets | 16 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
6739 views comments | 12 tweets | 20 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job