By Maureen Morrison. Published on June 02, 2015.
Pinterest has confirmed that it will introduce Buyable Pins, the company announced at an event at its San Francisco headquarters Tuesday.
A buy pin had been reportedly been in the works in recent months, but the company declined to comment at the time and it was unclear how the company would implement purchases and what other parties would be involved.
But the company Tuesday made it a point to illustrate that security and anti-fraud measures were in place. Pinterest is working with Stripe to handle payments, and is also working with Braintree and Apple to make sure "Pinterest's servers never touch customer's credit card information."
Users can make purchases through Apple Pay or by using a credit card, with users only needing to enter credit card information into the app one time. Once users enter their payment information, Pinterest sends the data via an encrypted channel to what executives called a "vault," where the merchants will the get the data from. Merchants will then let Pinterest know the transaction was made.
There will be no fee for merchants or Pinterest users, the company said, and the onus for returns will be on merchants, not Pinterest. Buyable Pins will be available to iPhone and iPad users later this month; it's not clear when they will be available for Android and desktop users.