Social bookmarking website Pinterest unveiled a way to buy items on the website through what it calls “Buyable Pins” marking its foray into ecommerce. The new option will have a “Buy” button on certain Pins which allows users to purchase things directly from partners that it’s working for. Users can check prices, choose colour, and then they can tap the button to buy the product.
Pinterest, on its blog, says that the feature is currently available in the US and users can pay for items through Apple Pay or a credit card. The company says that it does not store card details of users themselves and has signed up with Stripe, an e-commerce start-up that focuses on small and midsize online businesses to handle payments, as indicated by this New York Times report. Braintree, a payments processing company owned by PayPal, will also handle processing, the report added.
The NYT report also added that Pinterest will not be looking at taking a cut from retailers’ transactions but, it would make money selling promoted-pins advertisements to retailers, who can then insert buyable pins into those ads.
Pinterest says that it has teamed up with major retailers like Cole Haan, Ethan Allen, Kate Spade and Macy’s and that the feature will be first available on iPhones and iPads in the coming few weeks. Android devices and desktops will see Buyable Pins in future releases. TechCrunch also reports that Buyable Pins will show up in all of Pinterest’s features, like recommendations and search.
Google’s buy button: It’s worth noting that search giant Google has also been looking at ways to move into ecommerce and earlier last month it said that it would add a buy button on its search results pages for products on mobile devices. The button will appear next to sponsored or paid search results, which are usually on the top of the page, and will be displayed under “Shop on Google”. If users click on the buy button, they will be redirected to another Google product page where they will be able to complete the purchase and be able to pick colours, sizes and shipping options.
YouTube too has added buy buttons to TrueView ads, where users can click to buy stuff after being redirected to that product page. With the new feature, advertisers can overlay ads with product info, images and links where users can buy them. Marketers can also use these ads to re-market products to users who had previously checked out the products on the brand’s site without checking out. Advertisers will be charged when people click on any of the product elements or watch the full ad or at least 30 seconds of it.