Meta is collaborating with Amazon to integrate shopping experiences in its social media apps, Facebook and Instagram.
This partnership will allow users to link their Facebook and Instagram accounts with their Amazon accounts, enabling them to shop directly from these social platforms.
The convenience of using saved Amazon payment details and shipping addresses is a key feature of this new setup.
Amazon spokesperson Callie Jernigan confirmed that users will have access to real-time pricing, Prime benefits, delivery estimates, and detailed product information for selected Amazon products advertised on Facebook and Instagram.
This initiative was first revealed by Maurice Rahmey, co-CEO of Disruptive Digital, through a LinkedIn post.
Rahmey highlighted the advantages of this collaboration, such as improved ad targeting and optimization, better conversion rates due to quicker checkout processes, and customized ad messaging and product pages based on the user’s Prime membership status.
He believes this partnership could significantly boost revenue for Meta, Amazon, and advertisers.
Furthermore, Rahmey pointed out that this partnership could circumvent issues related to Apple’s App Tracking Transparency policy, creating a more efficient performance engine.
The feature is available for a selection of products advertised on Facebook or Instagram, sold either directly by Amazon or by independent sellers on Amazon’s platform.
The setup requires a one-time linking of the user’s Meta account with their Amazon account.
On a separate note, the U.S. Consumer Financial Protection Bureau (CFPB) is proposing a new regulation that could bring digital wallet and payment app providers, such as Meta and Apple under stricter federal supervision.
This move aims to regulate non-bank financial institutions similarly to their traditional counterparts.
According to a statement released on Tuesday by the CFPB, companies processing over 5 million transactions annually could be regulated like banks, credit unions, and other financial institutions that are already under the bureau’s supervision.
Under the proposed rule, auditors from the CFPB would have the authority to ensure payment applications comply with federal laws regarding money transfers and protect against unfair, deceptive, or abusive practices. While the CFPB can currently intervene if non-banking institutions operate unlawfully, it cannot regularly supervise their operations under existing rules.
