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November 18, 2011 06:40 am GMT
PayPal relaunched a peer-to-peer payment Facebook app today that some news outlets are misinterpreting as a partnership between the two companies. I've confirmed with Facebook that it's not. It's just a standard application on the platform, and Facebook couldn't really do anything to stop PayPal. But why hasn't Facebook built its own way for friends to send money to each other using its virtual currency Credits? Because ofsignificantfraud risks and its focus on making Credits work better for virtual goods purchases where it earns 30%.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/sbGkCRwIu9M/
PayPals Send Money App, and Why Facebook Never Built P2P Credits Payments
PayPal relaunched a peer-to-peer payment Facebook app today that some news outlets are misinterpreting as a partnership between the two companies. I've confirmed with Facebook that it's not. It's just a standard application on the platform, and Facebook couldn't really do anything to stop PayPal. But why hasn't Facebook built its own way for friends to send money to each other using its virtual currency Credits? Because ofsignificantfraud risks and its focus on making Credits work better for virtual goods purchases where it earns 30%.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/sbGkCRwIu9M/
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