Messaging apps are huge in payments — or rather, they may be someday. Facebook Messenger has confirmed that it is pursuing peer-to-peer payments and e-commerce, a path blazed by China’s WeChat, which has 650 million users and features multiple payment functions. That despite the fact that trust in mobile P2P money transfer is stillRead More
Post Tagged with: "David Marcus"
Facebook revenue continues to soar, but payments revenue plays little part in that — it’s all about the advertising. Payments revenue was $202 million, down 6% from the prior quarter, and down 18% year over year. Total revenue was a different story, up 11% on the quarter and 40% overRead More
Facebook has never emphasized payments as a part of its revenue model. And it seems it won’t start now. The social media site is all about advertising revenue derived from its 1.5 billion users, but the hiring of PayPal President David Marcus in June 2014 to helm the Messenger appRead More
Ummm, paging Venmo. Facebook is eating the cost of P2P transactions so it can own social payments like it already owns advertising and chatting. That’s the word from industry insiders mulling over Facebook’s announcement today that users can send money to friends for free using their Visa or MasterCard debit cardsRead More
Earlier today, The Information reported that eBay has been interviewing external candidates for the top job at PayPal, which was vacated in June when David Marcus left to be the head of Facebook Messenger. However, PayPal employees are pushing for Bill Ready, the current CEO of Braintree, to become the president at PayPal, according to numerous sources who spoke to Bank Innovation.
Everyone hates Mondays. But the folks at PayPal probably had a rougher Monday than you. First, it was reported that Amazon was taking on the eBay subsidiary with a new subscription and recurring payments billing service.
Facebook managed to pull of a major hire today, poaching David Marcus from PayPal, the eBay-owned payments company where he served as president.