Payvment Exits Facebook Commerce Business

by Mercator Advisory Group 0

The soon-to-be closed Payvment platform enabled retailers to market their products via Facebook. Users could then add items to a shopping cart without having to leave the Facebook website.

Currently, Payvments website reads, “The Payvment team is joining a new company and the Payvment platform will be shut down on February 28th.” It was later revealed Intuit purchased the company.

Existing Payvment customers are referred to Ecwid if they want to continue their social commerce businesses.

Several commerce and gaming companies have been riding the coat tails of Facebook’s success for the last few years. And some of them are now trying to achieve independence. Facebook’s consumer data is appealing for a variety of reasons, but it’s still unclear how retailers, or Facebook itself, can use it to facilitate commerce.

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