Payvment Shuts Down

Payvment, a Palo Alto, CA-based platform that enabled retailers to open ecommerce storefronts on Facebook, is shutting down.

According to the company, the platform will be shut down on February 28th and users will have one month to transfer their store to Ecwid, a Social Commerce company with over 200,000 sellers in 174 countries and a Facebook application similar to Payvment.

Ruslan Fazlyev, CEO, said that Ecwid the decision had no part in Payvment’s decision to shut down their service.  In order to enable a transition without problems, Ecwid released this video:

Founded in 2009, Payvment raised over $7.5m in venture capital.



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