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Get Ready for Facebook’s Foray into Payments

Facebook announced new features to their Messenger service in March allowing users to make P2P payments, but didn’t stop there. They have since announced plans to enable consumers and merchants to communicate via Facebook about purchases, known as Business on Messenger, and have started testing “Buy” buttons directly within advertisements that appear on a user’s News Feed.

In 2014 Facebook spun off the Messenger feature, originally part of the Facebook mobile app, into an app of its own. Although many users objected the company was determined to have users download the separate Messenger app as these features were discontinued within Facebook for mobile. While it left many Facebook users disgruntled, this transition was likely the planned early steps in preparing a bigger push into payments. Just a few months prior to this transition Facebook hired PayPal’s then president, David Marcus, as VP of Messaging Products.

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