It's a well-known fact that the more steps a shopper must take in order to make a purchase, the less likely that purchase is. The same is true for shoppers on Facebook, of course, which is why San Francisco-based Payvment has developed a tool that lets them buy from vendors without ever leaving the site.
Now in beta, Payvment turns companies' Facebook fan pages from marketing platforms into sales platforms. Specifically, its Facebook app gives vendors everything they need to create a storefront on the social networking site, including a built-in, full-featured admin area. Installation takes 15 minutes, the company says; once it's done, Facebook users can shop and make purchases from that store without needing to leave Facebook. Each TRUSTe-certified storefront can be added to an unlimited number of Facebook pages. Integrated product search enables discovery of the store's items from across Facebook, and a universal shopping cart lets customers complete their purchases from any Payvment-powered storefront on the site. Payvment currently supports sales in more than 20 currencies with automatic conversion; PayPal, Visa, MasterCard, Amex and Discover are all accepted. Other features include automated inventory control, email receipts, storefront comment capabilities and instant discounts for Facebook fans. Payvment is free for participants in its public beta program.
Since Payvment launched in November, more than 20,000 businesses and individuals have started to sell goods on Facebook and over 500,000 Facebook users have shopped for products in stores using the Payvment app. Businesses large and small: time to venture into the social shopping waters yourself...?