Facebook to test mobile payments service

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NEW YORK (AP) — Facebook says it plans to test a mobile payments service that lets users make purchases inside mobile applications using payment information they have added to their account on the social network.

Facebook is working on a "very small test" and the company says there is no set schedule for making the service available to users. The service would use payment information that shoppers store on Facebook to automatically complete checkout forms of certain mobile apps. Then, the app would process the purchase.

Facebook says the company has a "great relationship with PayPal" and the service won't involve moving payment processing "away from an app's current payments provider, such as PayPal."

News of the test was reported earlier by AllThingsD.

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