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Facebook's foray into payments: Should PayPal be worried?

from Fortune

Facebook dipped its toes in the payments world, but don't hold your breath for a PayPal competitor any time soon. After years of speculation that the social network would enter the space, Facebook announced a new feature that would allow users to send payments to friends using its popular messaging app. The feature wasn't a surprise announcement; CEO Mark Zuckerberg revealed the feature in his company's second-quarter earnings call. Tellingly, the company also recently hired PayPal CEO David Marcus to lead its messaging products group. more

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