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  • Facebook May Beat Apple in Mobile Payments Race

    We've known for months that Apple has an interest in mobile payments technology, but it may be Facebook that introduces a groundbreaking solution first at the level envisioned by Apple.

    The Financial Times of London reports that the social networking giant is close to receiving regulatory approval (in Ireland) to launch a service that "would allow users to store money and make electronic payments through the social network."

    "Facebook wants to become a utility in the developing world, and remittances are a gateway drug to financial inclusion," a knowledgeable source tells the Times.

    So where does this leave Apple? Behind the times... again. Despite rolling out TouchID - an obvious no-brainer foreshadowing the company's foray into mobile payments - consumers are growing restless for what's next.

    Although Apple may still enter the mobile payments arena this year, it comes as another blow to Apple's rapidly deteriorating image as the leading innovator of the 21st century when a rival company proves more aggressive and, perhaps, capable of entering a new product or service category before Apple, despite the tech giant's palpable interest in doing so.

    Source: The Financial Times
    This article was originally published in forum thread: Facebook May Beat Apple Mobile Payments Race started by Michael Essany View original post
    Comments 11 Comments
    1. DaLsim's Avatar
      DaLsim -
      Apple snail...
    1. iBwizzle's Avatar
      iBwizzle -
      I will never link my Finances and Facebook account!
    1. kemalmurt's Avatar
      kemalmurt -
      As allways "apple goes for quality " they don't rush things.
    1. RandyTG's Avatar
      RandyTG -
      Apple never does something just to do it. They take their time, perfect it, so that when they do release a product or service it is disruptive to the status quo. So what if Facebook starts their own payment service; it looks like you have to join Facebook to use it, so where is the value to non-members?
    1. reznor9's Avatar
      reznor9 -
      My Facebook account has been hacked numerous times. In fact it's the reason I stopped using Facebook. If they think for a minute I would feel safe linking my Facebook account to my finances they're crazy.
    1. NSXrebel's Avatar
      NSXrebel -
      Ha, like I would give facebook any financial info about me!
    1. WiiWendy's Avatar
      WiiWendy -
      LMFAO 😂 Take your time Apple. The folks that can afford your products will wait. We know you WILL do something GREAT and unhackable.
      Good Luck with that FB.😆 Ha Ha FB = For Beginners 😝
    1. NSXrebel's Avatar
      NSXrebel -
      Quote Originally Posted by WiiWendy View Post
      LMFAO �� Take your time Apple. The folks that can afford your products will wait. We know you WILL do something GREAT and unhackable.
      Good Luck with that FB.�� Ha Ha FB = For Beginners ��
      Anything is hackable, given enough time and resources.
    1. Raptor2213's Avatar
      Raptor2213 -
      Facebook wants us to trust them with our finances now too?
    1. scroogelives's Avatar
      scroogelives -
      Lol no way I'll let fb look after my money! Would like some kinda wallet built in to my iphone but would need to trust the company and fb would just use it to hit you with ads based on where you spend the money!
    1. jwil736's Avatar
      jwil736 -
      Agree with many others. I don't trust Facebook with any information.