In its second-largest acquisition, Amazon buys the company for $970 million.
Merchants can use the application to import inventory to Facebook.
The API allows an Etsy seller to import her products on her Facebook page. When they do, their Facebook page features a Shop Now tab that enables a consumer to browse products and complete a purchase on the social networking site.
Payvment’s Shop Now tab also features a site search box that allows shoppers to find products from other participating Etsy sellers, as well as the more than 30,000 retailers using Payvment’s offering. Consumers can complete all their transactions at once using Payvment’s universal shopping cart.
The application also enables merchants to offer discounts to Facebook followers. If a consumer clicks that they like the merchant’s page, the merchant can set its shopping cart to offer an immediate discount.
“Time is money to a large brand and everything has to work within one platform,” says Christian Taylor, founder and CEO of Payvment. “This is a way for them to quickly and easily feed their multiple channels.”