Payvment is a new e-commerce site that brings the retail storefront to Facebook. Stores and various retailers can launch their own store front on Payvment through their Facebook app. This virtual mall will offer over 1 million products from around 50,000 different retailers.
Retailers spend about 15 minutes creating a storefront for the app and then they are ready to go. Sales go to a Facebook-wide shopping cart system that lets customers complete their purchase from any storefront.
Retailers can add unlimited amounts of product to their stores, enjoy Payvments automated inventory control, set up categories of products for easy browsing, and even customize their page using HTML. Once everything is completed, the storefront will show up as a separate tab on their Facebook page or profile.
In this virtual mall, Facebook users can easily shop by accessing the site-wide directory that has everything from local vendors to big name brands. Users can “like” any vendor or product and it will appear on their News Feed. Facebook visitors can also comment on any product and leave reviews.
This app was launched in November 2009 and is already available and running in 20 countries worldwide. Not only that, but Techcrunch has reported that Payvment is adding 250 new retailers every day. That is a lot of growth for a fairly new company.
Payvment is changing the game for online shopping and proving that social network sites are evolving into much more than just a place for communication between friends. This global shopping platform, I predict, will be one of the many changes that will effect our social networking sites.
Source: Techcrunch, payvment.com
Image source: geeky-gadgets.com
