Social network Facebook is going to launch its own payment system. At the moment, the company is negotiating with regulators in Ireland about obtaining approval for the service, which would allow users to store their savings on their accounts on social networks, as well as use them for online payments, including via smartphones. This was reported by the newspaper Financial Times, which learned about the nearest plans of Facebook from its sources. People familiar with the situation informed that before the introduction of Facebook electronic money into circulation, which could spread throughout Europe, only a few weeks remained.
The war for dominance in the market of electronic payments promises to be long and tough. Several well-known companies, including Google, PayPal and mobile operators, are trying to occupy a dominant position in this market. According to analysts, Facebook will focus its main focus on mobile payments. A crucial role here can be played by emerging markets, which have long needed such solutions. The emphasis will be placed on them. However, it is unclear whether the Facebook payment system will be able to attract a sufficient number of users.
The survey shows that only 1 percent of respondents trust their savings to social networks like Facebook. This contrasts sharply with confidence in banks (43 percent), credit card issuers (13 percent), and mobile operators in the context of emerging markets (11 percent in China), Eden Zoller, an analyst with British research firm Ovum, told CNET.
It is also not clear whether Facebook can transfer the success of a social network to a completely different sphere. The analyst points to the failures of the company with virtual currency, Facebook Credits and Facebook Gifts - two simple examples of a failed social network attempt to assume the role of an electronic payment system.
However, this does not stop Facebook, which wants to monetize its huge user base as soon as possible. The company, in turn, refused to give any comments on the launch of a proprietary payment system.
It seems that the world has started a boom in its own payment systems. Russia recently said its word on this subject.
The article is based on materials .
Comments
Post a Comment