A payment system for Facebook messenger is in works!

art691719AM7262014Zuckerberg said that this model will be generated in a long term which may take few years and not in the short run.

“We are not going to have cheap and easy approach by putting ads in or do payments to make money in the short run”. But from a strategic point, Messenger will have some “overlap” with the payments. This move won’t be total surprise as Facebook has been trying from long to come up with an e-commerce or payment system of some sort. Messenger has more than 200 million monthly users and many rival apps can already be used for payment purposes.

Here’s how Zuckerberg revealed the news-

RBC capital market psychiatrist Mark Mahaney asked Zuckerberg why he poached David Marcus from PayPal to run the Messenger. Mahaney became offensive and said that the move was like “signing up messi up to the Miami Heat, like some old transition. Are we looking at it wrong?”

Zuckerberg seemed it insulting and made efforts to say that analysts ought to start adding revenues educated guess for payment inside Messenger into financial prediction model of Facebook.
Here’s Zuckerberg’s reply-

Messenger will have some partly cover of payments. But I guess what i’m trying to say is two things. One is, 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 businesses. But we’re really focused on the interactions overall, rather than the mechanism and David shares that view.

And the second thing is just that there’s so much ground work that we need to do in order to make it so that people are communicating with businesses and public figures and entities in these other apps that we’re building, which is part of the business ecosystem. And I really can’t underscore that enough that we have a lot of work to do and we could take the cheap and easy approach and just try to put ads in or do payments and make some money in the short term. But we’re not going to do that. So to the extent that any of your models or anything reflects that we might be doing that, I would strongly encourage you here to adjust that, because we’re not going to and we’re going to take time to do this in the way that we think that’s going to be right over multiple years.

Filed in: News, Social Media

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