Facebook To Become A Shopping Website

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With more than one billion users, Facebook is now developing an application that would allow you to shop and buy a lot of stuff by just using your Facebook ID and password.

The social media giant has been looking into this idea for about several years now, however there have been obstacles in the past that they were not able to put the idea into reality. According to analysts, there are two reasons that held Facebook back then:

Dealing with Fraud

Buying and selling online has a lot of big risks. The issue of people that they don’t get the product after paying the merchant is still a big issue even today. So people are looking for a trusted service provider that they can rely on with their personal information and bank accounts. Paypal for instance has invested a lot of money and resources to deal with frauds on their network and now most of online buyers and sellers are using paypal because of the security system they have developed over the years.

When Facebook is starting up, they don’t have proper resources to fight fraud, but now resources is not a big issue anymore. Facebook has earned billions of money thru their advertising. Research and development for highly secured online transaction applications can now be done.

Privacy Problems

Facebook has pushed users to put and share personal information across the system, to many this is fun and very engaging but it has created some serious security lapses that user accounts can be easily hacked and plagued with viruses. This issue has left most of the users not trusting the most popular social media when it comes to disclosing their personal information. They just can’t really trust it.

So, are you ready to give your bank account details to Facebook?  Would you trust them to give your credit card?

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