Facebook to trial PayPal-style mobile payment system (update: more details)

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We've had the chance to rent movies and otherwise purchase content through Facebook; wouldn't it make sense if we could sign in to Facebook to buy goods elsewhere? The social network certainly thinks so, as it just confirmed to AllThingsD that it will be trialing a mobile payment system in about a month. The service is reportedly very PayPal-like -- Facebook users with credit cards on file would just have to log in to make purchases inside of a mobile app. Only the flash sale outlet JackThreads is participating in the test at this stage, and there's no mention of when the trial period expires. However, a full-fledged launch is potentially a major advantage for the House That Zuck Built. The payment system would give Facebook both a larger foothold in e-commerce and more insight into what members are willing to buy from advertisers.

Update: Our colleagues at TechCrunch have shed a little more light on the subject. They claim that the payment system is more of a complement to existing services than a competitor: it would only fill out the forms for another payment provider, including PayPal. Facebook reportedly sees this more as an extension of its advertising system, as it would both speed up sales and let marketers know when their ads are effective.

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