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Payvment Launches Shopping Cart for Facebook

Oct 1, 2010

Payvment, the leading shopping platform on Facebook, today announced the release of a new application programming interface (API). The new API enables any retailer to easily import inventory to its Facebook page in order to offer these items for sale to Facebook's half billion members.

Christian Taylor, founder and chief executive officer of Payvment, said, "The release of Payvment's import API ushers in a new era of ecommerce possibilities for retailers. Now retailers have a very easy way to bring their product catalogs online for sale on Facebook - where Payvment can help them monetize their social media presence and turn Facebook 'Fans' into more valuable customers."

According to new research by Syncapse reported on by Forbes and AdAge, Facebook Fans are 41 percent more likely to recommend a consumer product and 28 percent more likely to continue using it. A Facebook Fan spends $71.84 more per year than a non-Fan and is worth on average $136.38.

Payvment enables retailers to offer Facebook Fan discounts-a powerful way for retailers to build a fan club, and increase loyalty and sales. If a user "likes" a retailer's Fan page, the retailer can offer an immediate discount that is built right into the Payvment shopping cart. Payvment's "Share" feature gives Facebook users the option to tell their Facebook friends about an item they like in your store via their Facebook News Feed. It also includes a link back to one's Facebook store.

Etsy Importer Application Launches
The first application of the new Payvment API is an importer that allows Etsy users to export and sell their products on Facebook.

Taylor added, "The number one request we've been hearing from our users is to have the ability to import their inventories into Facebook from Etsy. With Payvment's new API, now they can."

About Payvment
Payvment, Inc. is a venture-backed startup that has created the leading shopping platform on Facebook. Payvment provides, free of charge, the only application that enables retailers to create their own storefronts where Facebook's 500 million users can shop without ever leaving the social network. As retailers look to social media for new ways to build their brands, Payvment helps monetize a brand's Facebook presence and turn "Fans" into more valuable customers.

Launched in late 2009, San Francisco-based Payvment has signed up more than 30,000 retailers offering more than 500,000 searchable products. Payvment is currently adding hundreds of retail storefronts and thousands of products per day.

Topic: Wholesale News

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Article ID: 1372

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