Cardinal Trading: Facebook appears to be on the verge of incorporating payment functionality into its Messenger app.
Cardinal Trading: Users of social media giant, Facebook’s Messenger application will soon be able to send money to each other according to leaked unpublished code being worked on by the company’s development team.
Technology and social media analyst at Cardinal Trading, Paul Sharkey said, “Facebook’s given us plenty of hints that it has designs on payments. The company’s CEO Mark Zuckerberg said as much during the company’s 2nd quarter earnings call and it’s interesting to see them apparently gearing up for a launch so soon after Twitter launched its Stripe-powered ‘Buy Now’ button and Apple unveiled ‘ApplePay’”.
The Menlo Park, California-based company recently hired the former president of PayPal providing further evidence that it is committed to the sector.
According to a screenshot of the unpublished code, Facebook users will have the option to add a debit card to their account prior to making a payment
“No one’s sure as to whether Facebook would actually charge for providing the service but most commentators seem to be of the opinion that they simply want to keep users within their ecosystem rather than have them going to third parties like PayPal or Stripe in order to make payments or send money conveniently to friends,” explained Sharkey.
Despite Facebook’s refusal to confirm or deny the veracity of the revelation, consensus at Cardinal Trading is that the company will not want rivals like Twitter and Apple Inc. to have a dedicated payments system should it, at some point, wish to enter and compete effectively in the e-commerce arena.
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