Facebook (FB) to Enable Money Transfer Through Messenger

 Reportedly, Facebook Inc. (FB) has collaborated with TransferWise Ltd., an international money transfer service that will enable users to make international transactions over the Messenger app.
In Sep, 2016, Facebook’s Messenger provided tools to developers to enable ‘bots’ to accept and make payments within United States, thereby eliminating the need to redirect to an external website. This was directed to enhance commerce services as the credit/debit card details were stored on the platform and readily available while making purchases within bots. Reportedly, Facebook had collaborated with the likes of PayPal PYPL, Visa, MasterCard and American Express and others for the bot payment feature.

Collaboration with TransferWise will enable similar services, internationally.
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London-based TransferWise operates in a highly competitive global payments industry marked by the presence of traditional financial services companies such as MasterCard and Visa. Being an intermediary, it is vulnerable to competitive moves from these companies in the digital wallets space.The move to team up with Facebook is likely to be a positive for the money transfer company.
Messenger is the company’s third 1 billion user platform after Facebook and WhatsApp. The company remains pretty excited as it opened the app to developers for creating chatbots that will enable businesses to extend customer service and other transactions. Chatbots is the new buzz word in the tech space and could serve as a powerful strategy to monetize the platform.
Per media reports, TransferWise's chatbot in the Messenger app will help customers to send money to and from the United States, Britain, Canada, Australia and Europe and can also be used to set up exchange rate alerts.
Facebook has vastly outperformed the Zacks Internet Service industry so far in 2017. We note that shares have gained 26.63% as against the industry’s gain of 16.00% during the period.
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Currently, Facebook has a Zacks Rank #3 (Hold).
Better-ranked stocks in the wider technology space are ARRIS International PLC ARRS, and Netflix Inc. NFLX. Both ARRIS and Netflix hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notably, in the trailing four quarters, ARRIS and Netflix have generated a positive average earnings surprise of 21.33% and 141.35%, respectively.
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Facebook (FB) to Enable Money Transfer Through Messenger Facebook (FB) to Enable Money Transfer Through Messenger Reviewed by Akosuaevelyn on 02:32 Rating: 5

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