Facebook will now track users’ finances in addition to social contacts, employment, health status and political affiliation
‘In its bid to become the provider – and tracker – of all things to all humans, Facebook has announced that it is entering the peer-to-peer money transferal market.
The initiative is meant to rival PayPay, and it revolves around Facebook’s Messenger app. According to the Financial Times, the Silcon Valley-based social media company is trying to compete with PayPal, Square and other payment providers and, eventually, even large banks, following an announcement that users will be able to upload a Visa or MasterCard debit card to the Messenger app and send payments to other Facebook users for free.’
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