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Social Commerce Platform Payvment to Close

Sellers have until Feb. 28 to move items to new shopping cart.

Online sellers who list on Facebook using Payvment have until the end of the month to move their products to another social commerce platform, as Payvment will shut down on Feb. 28.

Additionally, merchants have less than two weeks to make sales on their Payvment stores, according to an announcement on the platform’s home page. It notes that after Feb. 14 the Buy buttons on Payvment stores “will no longer function,” though sellers will have access to their shops until Feb. 28 to fulfill orders.

According to the announcement, the social commerce platform is closing because the Payvment team was acquired by another company. TechCrunch reports that company is Intuit, a business and financial management solutions company for small to mid-sized businesses.

Payvment tells its 200,000 sellers they can transfer their items to Ecwid, a shopping cart that also allows merchants to list on Facebook and other social sites, or they can download a CSV file containing their listing information if they want to save their product details.

The post states that the transition to Ecwid is quick and takes just one click from within their Payvment dashboards. Data that remains on Payvment after Feb. 28 will be deleted.

Images saved on Payvment cannot be downloaded, though they will be moved to Ecwid if sellers choose to transfer their items to that platform, the announcement notes.

It adds that Facebook ads purchased through Payvment will continue to run on Facebook, however, no new ads will run after Valentine’s Day. The company notes it will refund subscription fees if merchants had paid for service beyond February.

About the author

Olga Munoz
Olga Munoz is editor of TheOnlineSeller.com. In addition to writing news and feature articles about e-commerce, selling trends, online marketing and other topics of interest to online sellers, Olga manages the site's social media efforts. A journalism graduate of Chico State, Olga says her favorite part of being a journalist is learning interesting facts that help put stories into perspective, attending industry events and meeting interesting people "that leave you smiling, even in tough situations." Opinions expressed here may not be shared by The Online Seller and/or its principals.



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