Confirmed: Facebook Messenger will eventually do payments

Now we have confirmation on why Facebook hired PayPal’s David Marcus: Payments and Messenger will eventually “overlap,” Zuckerberg said during today’s earnings call.

When the company first announced it had hired Marcus, the former president of PayPal, the industry took it as a strong hint that Facebook was looking to monetize its messaging app. After all, Marcus joined PayPal after parent-company eBay acquired his mobile-payments startup Zong in 2011, first leading PayPal’s mobile efforts before taking the lead as president.

While monetization speculations were broad at the time, Zuckerberg’s confirmation that payments will come to Messenger someday is almost too obvious now.

But what Facebook will do with WhatsApp, a hugely popular messaging app the company acquired a few months ago, is still unclear. Facebook has maintained that it will keep it separate for the time being, but really, who knows?

The company posted a strong second quarter results today with $2.910 billion in revenue, and about $1.66 billion in mobile advertising revenue, or roughly 62 percent of Facebook’s total advertising revenue.

More information:

Facebook is the world’s largest social network, with over 1.15 billion monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 w... read more »

A lifelong entrepreneur and respected product innovator with an impressive record of business success on two continents, David Marcus joined PayPal in 2011 to continue working on his long-term vision of digital payment technology that ... read more »

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27 comments
Justin Fung
Justin Fung

Agreed. WeChat is already doing this in China.

Jason Yu
Jason Yu

Because WeChat does it. FB should just buy Venmo already and make this happen.

Rico Masters
Rico Masters

OOh - it's on! LinkedIn doing social geolocation and perhaps soon even transport...

Welcome to the internet
Welcome to the internet

I can't wait until facebook is old news. It's just glorified email, and they have too many browser restrictions and the stupid need a phone number policy is retarded, too.

Sheela Ursal
Sheela Ursal

Interesting. Will have to see fee structure, wallet security and how money received can be used to make purchases. PayPal is now more ubiquitous payment method than when it first started.

Mark Koh
Mark Koh

They might charge an exorbitant margin though.

Nate Hermes
Nate Hermes

This is why they brought David Marcus on (paypal, zong)

Christopher Jackson
Christopher Jackson

If "WTF" is the best and most appropriate post your social media team can come up with, then you should really fire them all and hire someone with a brain

Seth Miller
Seth Miller

Google is already doing this with Google Wallet & Gmail - great for freelancers/pay your friends (contribute for a party, tics to a concert) etc

Jonathan Kleiman
Jonathan Kleiman

You say "WTF" to something they have been working on openly for years? I say WTF to you!

Ashish Singh
Ashish Singh

Venture Beat too late for Fools Day \U0001f602\U0001f61c

Greg Kieser
Greg Kieser

Bitcoin will be integrated. Source: me.

Alex Perez
Alex Perez

agreed. i wouldn't trust this thing one bit.

Chris Wells
Chris Wells

I'm lost..is it just allowing you to pay through the facebook messenger, or is there a cost per message sent implication..? I don't..understand..I'm a bit lost.

Moon Ahmed
Moon Ahmed

How is FB glorified email lol? There is quite a bit of content. The platform itself keeps users pretty engaged with that content as well, which is why their engagement rates have gone up YoY. FB is meant to be a utility for social network like google and amazon are to search and e-commerce respectively. Just seems like your complaining because you don't agree with the fact that a platform wants your data in exchange for "free access" which again no one is forcing you to use.