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> having credit cards on file is conveniently closer to making more money It will be a drastic change to pivot the company from one where the customer is the p
by alephnan 5y ago
> having credit cards on file is conveniently closer to making more money
It will be a drastic change to pivot the company from one where the customer is the product to the customer.
Credit card input also introduces friction and bounce rate of user signup. This would hurt Facebook's user growth and MAU KPIs
- Bancakes 5y agoPeople already make accounts with phone numbers, I suspect credit cards won't be different.
- resonious 5y agoIt's a bit easier to memorize a phone number than a credit card number.
- Freak_NL 5y agoThe number of active credit card holders in the UK is somewhere in the 35 million range. The number of adults is somewhere over 56 million. There is quite a mismatch there. Unlike the US, owning a credit card is not standard for most people in the world. People tend to get them for online shopping abroad, and for travels out of their currency zone as a back up.
- tobylane 5y agoI don’t know if a debit card counts, because they are 16+. Many of us took a while to move onto credit cards but still had access to cashless, online and overseas payment.
- joshuaissac 5y ago> I don’t know if a debit card counts, because they are 16+. 11+ with parental permission. I had one around that age.
- desas 5y agoIt's credit card OR id though. People like Experian are already offering age verification systems that check passports, driving licences etc. The government also have their own GOV.UK Verify programme which has multiple providers which prove identity and thus age. If you can login to your government tax account, or apply for a DBS, you'll be able to prove your identity.
- tempodox 5y agoFacebook's customers are advertisers, not users.
- alephnan 5y agoYou're right. I've been in the weeds analyzing the finances of tech companies where the users of the apps are actual customers, and the term 'user' weren't as nice