Panelists: Facebook Has Opportunity in Payments but Not Likely with NFC or at Physical POS Anytime Soon

NFC Times Exclusive: Facebook is unlikely to become a real payments player or use NFC or other technologies to try to make the jump to the physical point of sale anytime soon, panelists at a recent NFC conference agreed.

Panelists at the NFC World Congress’ “Paying with Facebook: Which Impact for NFC Ecosystems?” debate held last week were responding to news Sept. 23 that Facebook had launched a test of its Autofill with Facebook feature, which enables customers to automatically fill their credit card or payment details on two iOS retail apps using their Facebook accounts.

The feature enables users to avoid filling out their payment details for e-commerce purchases, but Facebook has some advantages over such e-commerce companies as Amazon, which has its own autofill feature.