Facebook is set to test peer-to-peer (P2P) payment services.
eMarketer estimates that 31.0% of US adult smartphone users, or 60.4 million people, will be P2P payment users this year. By adding such services, Facebook increases the “stickiness” of its platform—something that helps increase ad views—while also creating new potential revenue streams derived from transactions instead of advertising. Facebook is looking to become something closer to a mobile operating system than a social network.
Jay & Julia Taylor own and operate Caney Creek Studio. Caney Creek Studio is a video production, digital marketing, and social media management agency.