Facebook is hardly satisfied with just being a social media platform. Next, they want to turn their Messenger into an “Everything App”. From hailing Uber rides and setting events, Messenger is becoming a one-stop-shop for all your needs. The latest addition, however, will mark an important shift amongst mobile payment services like Venmo and Apple Pay.
VENMO’S DAYS ARE NUMBERED
New code on Facebook Messenger suggests they plan to create a digital transaction feature and a way to pay for physical goods in stores. These two technologies are hardly anything new. Venmo has gained popularity as one of the better mobile payment serves out there and Apple Pay has shown promise with their in-store transactions. If Facebook is able to bring these abilities to one place, it just might mark the end for competitors. However, at the moment, it’s not certain if this addition means Facebook will take Venmo and Apple Pay head on. One possibility is that it may piggyback on those services instead of outright replace them.
FACEBOOK TELLS APPLE PAY NOT TOO WORRY
According to Mark Zuckerberg, he only has the utmost respect for services like Venmo and Apple Pay. He suggested they would like to partner with companies that do payments. He even went as far to compliment the Apple Pay innovation specifically. Either Zuckerberg actually has a soul or he’s terminally ill and trying to make amends. If that doesn’t seem weird enough, Zuckerberg even said that he wasn’t planning to make any money from the transactions on Messenger. Instead, he wants to use the added e-commerce to soup up the advertising side of things. Is Zuckerberg turning down money now? Surely, something is wrong.
GOOGLE THE REAL TARGET
Although this new tech might kill Venmo, it seems the real target here is Google. Within the Messenger code, there will be options for users to tap a suggested business. This means Facebook will analyze people’s behavioral interest in order to direct them towards relevant business. This will surely compete with Google’s version of the search business. Companies will likely pay the social media platform to help increase their visibility. The increased competition will probably steal some business from Google, thus revealing the true plan. Zuckerberg, you sly dog.