Most existing attempts at the space look more like Craigslist without integrated payments, and a lack of trust and insurance scare away buyers and suppliers.
Among the innovations the two companies are developing will be an integrated payments solution that can potentially compete with the mobile payment juggernaut that is Apple Pay.
Rock The Post offers an integrated payments option, so that users can make transactions on the site itself, rather than being directed to a third-party website.
Friendster and MOL entered a global partnership in October of this year where MOL was appointed to provide an integrated payments platform, as a foundation for The Friendster Wallet and The Friendster Gift Shop, for Friendster's users.
"You have access to the integrated payments, access to Capital, access to chargeback protection, and our analytics," O'Connor offered when I asked why store owners might choose Square Retail over competitors like Shopify or Revel.
The company isn't making money right now, but it is planning to introduce a few monetization streams: including integrated payments (it will take a cut of transactions), and a (paid-for) lead-generation engine that serves Google-like recommends to customers when they search for specific items.
