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Honest question: what will be the incentive for consumers to use Libra over existing solutions like PayPal, Apple Pay, Venmo etc?
by codesushi42 7y ago
Honest question: what will be the incentive for consumers to use Libra over existing solutions like PayPal, Apple Pay, Venmo etc?
- yellow_postit 7y agoEase of use will be the first hook: FB will likely leverage their install base across insta, FB, WhatsApp, messenger, etc to just upsell this constantly. Lowering the barrier to send to drive adoption.
- cm11 7y agoThe biggest is the likelihood that they, and their networks, are already using Facebook. And they're far more likely using Facebook than any of the other services you mentioned.
- 88840-8855 7y ago1) easier p2p transfer built into apps they have already installed on their devices 2) international transfers are instant and low-cost 3) applepay, venmo and paypal are made for the developed markets. this one targets similar markets where Vodafone has its m-peso
- WhiteOwlLion 7y agoLower transaction fees and your friend likely has an account (or it is very easy to sign up FB user with Libra). As long as Libra is cheaper compared to existing method of transferring funds, it'll be a success. Say it costs me $8 to send money to South Africa. If Libra is free or costs $0.01, then of course I'd use Libra.