Payvment Brings the Shopping Mall to Facebook

PALO ALTO, Calif.--(BUSINESS WIRE)--Payvment, the number one Facebook ecommerce platform, today launched the first-ever Shopping Mall on Facebook (www.facebook.com/gotothemall). Now offering over one million searchable, interactive products on the world’s largest social networking site, the Shopping Mall on Facebook provides brands and merchants of all sizes the opportunity to be discovered by over 600 million potential customers.

“The Shopping Mall on Facebook is where online shopping gets truly social”

The launch of the Shopping Mall on Facebook marks a major stage of development for Payvment’s pioneering shopping technology. According to comScore, ecommerce had its best year ever in 2010 with sale estimates reaching $43.4 billion. With more than 50,000 retailers currently using Payvment and 250 signing up each day, the Shopping Mall on Facebook takes ecommerce to the next level by bringing the mall to people online.

“The Shopping Mall on Facebook is where online shopping gets truly social,” said Christian Taylor, founder and chief executive officer of Payvment. “We are confident that the Shopping Mall on Facebook will be the place people go to discover new brands, great deals, and the products they and their friends want.”

Key features in the Mall include:

Mall Directory: Shoppers can use a comprehensive directory of ecommerce stores, from celebrity brands to local merchants, to discover or find what they are looking for in an easily searchable way.
“Like” products you want: The Shopping Mall utilizes Facebook’s “like” function to get a merchant’s top-tier products virally noticed. While Facebook users can “like” a retailer’s fan page once, the Shopping Mall on Facebook enables customers to “like” many different products, enhancing products’ recommendations and personalizing the shopping experience further.
Search merchandise: Merchants have their own, searchable page within the Shopping Mall on Facebook, where shoppers can sort products by price, most liked item, and more. The Shopping Mall on Facebook will provide key business benefits for small and large merchants alike; through the Shopping Mall’s unique product search function.
Personalized Recommendations: Using the social graph, Payvment and the new Shopping Mall on Facebook offers users products based on what they already like.
The Dashboard: By sharing your ‘likes’ and seeing what your friends are ‘liking’, these tabs not only enhance the social aspect of shopping, but aide in the discovery of new products as well. The three main features are:

“You like,” which helps define your preferences and creates a wish list of products;

“Your Friends like,” which provides trusted suggestions; and
“Your Cart” holds on to your items even if you don’t buy it and updates pricing and inventory information.

Shop around, check out once: Payvment provides a “universal” Payvment shopping cart customers can use to shop from store-to-store.
Share reviews with friends: The platform’s built-in review and commenting feature enables Facebook users to leave a comment about an item in any merchant’s store and post it to their News Feeds for all their friends to discover.

About Payvment

Payvment, Inc. (www.payvment.com) is an award-winning, venture-backed startup that has created the number one Facebook ecommerce platform. Recognized by ecommerce Awards for Excellence 2010 with the ecommerce Site Innovation Award, Payvment provides, free of charge, the only application that enables brands and merchants a way to create their own storefronts where Facebook’s 600 million users can discover products and shop without ever leaving the social network. As brands look to social media for new ways to build their identity, Payvment helps monetize a brand’s Facebook presence and turn “Fans” into more valuable customers. Launched in late 2009, Palo Alto-based Payvment has signed up more than 50,000 brands and merchants offering more than one million searchable products across Facebook. Payvment is currently adding hundreds of storefronts and thousands of products per day.

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