I wrote a piece a few months ago in Harvard, noting the difficulty of competing in a world dominated by Google and Facebook. Facebook has built the platform, it can keep adding on top of it. A few weeks ago, it was Facebook Shops. This week, the new one is WhatsApp Pay. So, it goes for this ICT utility company which is already a key part of the 21st digital infrastructure. When you control DEMAND, you become the digital king; Facebook will squeeze more sectors because it has the users. I have a construct for it: The Inversibility Construct.
Facebook has announced the launch of its payment system via WhatsApp, as part of its effort to delve into fintech and ecommerce. The CEO Mark Zuckerberg said on Monday that the launch is starting in Brazil.
“Today we’re starting to launch payments for people using WhatsApp in Brazil,” Zuckerberg said in a statement posted on Facebook. “We’re making sending and receiving money as easy as sharing photos. We’re also enabling small businesses to make sales right within WhatsApp.”
“To do this, we’re building on Facebook Pay, which provides a secure and consistent way to make payments across our apps. I want to thank all our partners for making this possible. We’re working with local banks, including Banco de Brasil, Nunbank, Sicredi as well as Cielo, the leading payments processor for merchants in Brazil,” he added