06 October 2015

Facebook commerce outfit Payvment shuts down

28 January 2013  |  4797 views  |  0 Woman figure shopping on top of keyboard

Social commerce outfit Payvment is shutting down its platform and offloading its 200,000 Facebook merchant customers to rival Ecwid.

In a notice on its Web site, Payvment says its platform will shut down at the end of February and that its team is "joining a new [unnamed] company", believed to be Intuit. Companion site Lish.com is also being closed.

Intuit is also understood to have taken control of Payvment's technology and patents, while the now defunct company is telling its users to transfer their Facebook stores to Russia-based Ecwid's platform so that they can continue selling on the social network.

Ecwid - which already serves more than 250,000 merchants - says that its Facebook app enables merchants to add a full-featured store to any page so customers can discover and buy products without ever leaving the site.

Jim Stoneham, CEO, Payvment, has not explained the move but says: "Ecwid's e-commerce technology will not only enable our merchants to keep selling on Facebook, but also allow them the opportunity open up new channels by placing a store anywhere their customers shop online."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

17 January, 2013
20 June, 2012
03 February, 2012

Related company news


Top topics

Most viewed Most shared
Banks face choice to collaborate or compet...
8272 views comments | 43 tweets | 49 linkedin
BNP Paribas to pilot cards with dynamic CV...
6515 views comments | 31 tweets | 36 linkedin
Worldpay trials facial recognition technol...
6417 views comments | 23 tweets | 39 linkedin
Payments firm Adyen scores funding at $2.3...
4985 views comments | 16 tweets | 14 linkedin
Switzerland gets new fintech accelerator
4299 views comments | 15 tweets | 3 linkedin

Featured job

up to £95K base, £190K OTE, benefits
London, UK

Find your next job