Image from Nerdwallet.com
I’m curious what you all think about Facebook getting into the money business? I’m not sure I totally understand why Facebook friends would want to send money to each other.
Facebook announced earlier this week that users of its messenger app would be able to attach their debit cards to the service. That means that Facebook friends would be able to transfer money to each other with a simple click.
I know that Facebook has grander plans than just providing a friendly money exchange program. Speculation is that Facebook wants to be a big player in the e-commerce business. Analysts would love to see Facebook users buy products directly from advertisers.
Despite my less than enthusiastic feelings about Facebook’s new program, I’m sure it will be successful. Facebook’s Messenger app is one of the largest platforms in the world. They have more than 500 million monthly users.