Friday, March 20, 2015

Facebook Launches Payment System For Messenger App Users

Facebook is making a very big push in the mobile payment space.

In the upcoming months, Facebook Messenger users will now be able to send money to friends within the app. "Easy, Secure, Free,” says the Facebook announcement.
  • Facebook Messenger has over 500 Million monthly active users
  • Of these users there are nearly 80 million payment cards already on file, thanks to Facebook being a trusted payments processor for gaming, advertising, and donations since 2007
Facebook Messenger is poised to disrupt the industry, taking market share from P2P payment leaders like Venmo, PayPal, and Google Wallet.

Beyond just payments, Facebook Messenger expects more updates next week during the F8 conference particularly around how it plans to compete with other messaging services. You can find more information here and here.

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