Facebook will soon test a payment feature that could compete with PayPal, a report claims. The feature would benefit users who have previously shared their credit card information with Facebook, either for gaming apps on the side or for the company's gifts feature, AllThingsD reported, adding that the feature will launch in the next month.

Facebook's first partner is JackThreads, an online shopping site for young men, according to AllThingsD.

Generally, getting involved with its users' payments may be beneficial for Facebook as it would gain data on their shopping habits and serve them better target ads.