Facebook News: Will Users Feel Safe Linking Their Bank Accounts To The Social Media Giant?
It looks like Facebook has seen the success of PayPal and wants in on some of the action.
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Apparently the social media site is setting up a new service which will allow users to send payment to one another online. On Thursday Mashable confirmed that Facebook is officially a contender to corner the user-to-user payment market.
Reportedly, Facebook users will soon be able to send payments to each through the company's Messenger app, all without the trouble of a processing fee. The tech giant is banking on the convenience of the app, as well as its comprehensive list of friends and family taken from the user's Facebook page, will make it a hit.
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"The payments piece will be a part of what will help drive the overall success and help people share with each other and interact with business," declared co-founder and CEO Mark Zuckerberg. "But we're really focused on the interactions overall."
Of course, with the discussion of money inevitably comes the question of security. Will the Messenger app be well-protected against identity theft? Will users feel safe?
Competitors in this market have struggled with fraud in the past, which suggests that Facebook's road to success might be littered with a few speed bumps. The company might have to work a little extra to assure people that it's a competent product.
If the app is successful, however, then it could just bring Facebook one step closer to online domination.
