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Pinterest forays into ecommerce with a buy button

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…

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