Industries

Facebook tests 'Buy' button

A Facebook logo on an Ipad is reflected among source code on the LCD screen of a computer, in this photo illustration taken in Sarajevo June 18, 2014.  Ireland's High Court on Wednesday asked the European Court of Justice (ECJ) to review a European Union-U.S. data protection agreement in light of allegations that Facebook shared data from EU users with the U.S. National Security Agency.   REUTERS/Dado Ruvic  (BOSNIA AND HERZEGOVINA - Tags: CRIME LAW BUSINESS POLITICS) - RTR3UH34

A Facebook logo on an Ipad is reflected among source code on the LCD screen of a computer, in this photo illustration taken in Sarajevo June 18, 2014. Ireland's High Court on Wednesday asked the European Court of Justice (ECJ) to review a European Union-U.S. data protection agreement in light of allegations that Facebook shared data from EU users with the U.S. National Security Agency. REUTERS/Dado Ruvic (BOSNIA AND HERZEGOVINA - Tags: CRIME LAW BUSINESS POLITICS) - RTR3UH34  ( REUTERS/Dado Ruvic)

Facebook is testing a "Buy" button in its latest effort to help businesses drive sales through the world's biggest online social network.

The company says in a statement that the button will let people buy products directly from businesses without leaving Facebook. The button appears in sponsored ads and is being tested by several small- and medium-sized businesses in the U.S.

The move comes as Facebook continues to grow its advertising business. The company will account for 7.8 percent of global digital ad spending this year, up from 5.8 percent in 2013, according to eMarketer. Google, the world's No. 1 recipient of ad dollars, is expected to account for 31.5 percent of ad spending in 2014.

Facebook says it won't share users' credit and debit card information with other advertisers.