SAN FRANCISCO -- Pinterest made clear its intentions to take on Amazon, Google and other mobile retailers Tuesday with the formal announcement of "Buyable Pins," a feature set to roll out later this month on the iPhone and iPad that will let users buy products directly from the startup.
At launch, Pinterest will have 2 million items ready for purchase through Buyable Pins, which will appear as a blue button on pinned posts. Users will be able to find Buyable Pins on their home feed as well as on search results, where the purchasable items will appear near the top on a carousel.
The startup said Buyable Pins will be supported by thousands of retailers at launch, including Macy's, Neiman Marcus and Nordstrom. Independent and small-sized retailers will be able to post their catalogs on Pinterest by working with either Demandware or Shopify.
IPhone and iPad users in the U.S. will be able to pay using Apple Pay as well as their credit cards, with most transactions being handled by Stripe, the payment processing company. Pinterest said Android and Web users will be able to use Buyable Pins "later this year."
“Buyable Pins is Pinterest's effort to make shopping specific for your phone," said Pinterest CEO Ben Silbermann at the company's headquarters. Pinterest's Buyable Pins announcement comes just one week after Google confirmed it too will soon be rolling out a buy button for mobile search results.
Surprisingly, Pinterest said it will not be taking a cut of any purchases made through its service. The company said it wants items to be priced as they would appear on retailers' websites. Like Google, Pinterest will be relying on brands to pay for advertising to promote their buyable items.