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Not content with your data, Facebook's now after your money

Facebook is teaming up with online payments startup Stripe in order to bring a "Buy" button to users' News Feeds.

The initiative was first tested back in July, but now representatives from both companies have confirmed the ongoing partnership, according to Re/code (opens in new tab).

Read more: Facebook acquires LiveRail to boost video ad revenue (opens in new tab)

The Buy button will allow Facebook users to purchase items featured in ads or News Feed posts. The feature is still currently in its test phase, but it is likely that more and more users will begin seeing the button in the coming weeks.

From a business point-of-view, the news is interesting due to Facebook's reliance on different payment partners for its other features, including PayPal's mobile payments service provider, Braintree. Facebook has also previously worked with Stripe on a project that allowed users to auto-fill their payment information when using third-party apps.

Stripe itself has also been gathering an impressive range of partners in recent times. The 150-person San Francisco-based startup has already established payment partnerships with Twitter, Apple, and Chinese firm Alipay within the past 12 months.

Similar to the Facebook deal, Stripe's Twitter collaboration also enables users to make purchases within their news stream as part of the network's new in-feed commerce initiative. The firm has also been marked as a "highly recommended" partner for Apple Pay, the company's recently launched e-commerce service.

Read more: Startup Stripe lands Apple Pay recognition (opens in new tab)

While Facebook's Stripe partnership doesn't prevent the social network working with other payment providers in the future, the fact that Stripe is the only collaborator behind the new "Buy" button is another major boost for the e-commerce startup.

Barclay has been writing about technology for a decade, starting out as a freelancer with IT Pro Portal covering everything from London’s start-up scene to comparisons of the best cloud storage services.  After that, he spent some time as the managing editor of an online outlet focusing on cloud computing, furthering his interest in virtualization, Big Data, and the Internet of Things.