How disruptive could Facebook be in the payments industry?
Payments
Asked by Question Bot06/Mar/20151 answer
1 Answer
F
Faisal Khan
Answered 06/Mar/2015
For Facebook to do anything truly disruptive, they can do quite a few things, but in the strictest of definition of the word disruptive peer-to-peer money transfers would be the best bet.
Facebook with its 1+ Billion active users, can do a lot in the payments space. They can roll out worldwide money transfers, they can for example look at the model of say Ripple (see Ripple) and absorb that into their ecosystem and essentially become one of the world largest payment network.
They could use the same network and launch a peer-to-peer funds transfer based on net-off trading, something similar to CurrencyFair or Transferwise.
For some reason, for the past few years, Facebook has had its foot on the proverbial brake pedal, not letting go. They can be a serious disrupter in the payments space, but for some odd reason, they are seemingly not doing much about it (in terms of results).
Facebook with its 1+ Billion active users, can do a lot in the payments space. They can roll out worldwide money transfers, they can for example look at the model of say Ripple (see Ripple) and absorb that into their ecosystem and essentially become one of the world largest payment network.
They could use the same network and launch a peer-to-peer funds transfer based on net-off trading, something similar to CurrencyFair or Transferwise.
For some reason, for the past few years, Facebook has had its foot on the proverbial brake pedal, not letting go. They can be a serious disrupter in the payments space, but for some odd reason, they are seemingly not doing much about it (in terms of results).