The e-commerce platform Payvment announced it’s going out of business this week. In 2011, Payvment had opened a virtual mall that allowed customers to shop without leaving the social media site. MediaPost reported that the company powered an estimated 200,000 Facebook stores.
Payvment is sending its customers to Ecwid, which also offers F-commerce applications.
As Mark Walsh notes in the MediaPost news story: “Despite its enormous user base and high engagement levels, Facebook has yet proven to be a thriving platform for e-commerce. The underlying question is how interested people are in buying products when they’re going on the social network mainly to hang out with friends.”
You can read more at mediapost.com.