Facebook enlists Stripe for 'buy' button

Facebook enlists Stripe for 'buy' button

Already working with Twitter, startup Stripe has been named as the payments power behind Facebook's new 'buy' button.

Facebook began testing its 'buy' button in July, letting users purchase products advertised on the social network directly from sellers by clicking a call-to-action tab on ads and page posts.

Stripe has now confirmed to Recode that it is the sole payments partner for the service, which could prove a lucrative revenue stream for Facebook if and when it gets a full rollout.

Founded by 20-something brothers Patrick and John Collison, Stripe has scored several deals over the last year with big firms looking to crack the payments market.

It is behind Twitter's 'buy' button, which is currently being tested by merchants who embed it in tweets so that shoppers are able to make purchases from within the social network. In addition, it has nabbed a deal with Chinese giant Alipay and been anointed a "highly recommended" partner for Apple Pay.

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