By Lumar LeBlanc
Paypal announced that they have partnered with Facebook so that users can be able to send money through messenger. This merger has also led consumers to use PayPal more. This venture between the two companies has taken off like many other popular apps. Digital money transfers have been successful outside of the US market, like China's Tenpay through WeChat. WeChat has seen consistent growth. PayPal and Facebook entering this market will have to watch for competitors like Apple, who will soon offer Apple Pay Cash through iMessage.
The market of digital money transfers is growing and is the future. Facebook is definitely joining a competitive environment. And both companies are recognizing the opportunities in a changing market. Consumers are moving from traditional banking operations and companies are recognizing this by offering new products.
https://blogs.wsj.com/moneybeat/2017/10/20/paypal-looks-to-extend-reach-with-facebook-deal/
Posted: October 20, 2017, by Peter Rudegeair
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