Eager to expand into an emerging industry in its own right, Facebook is launching its own Facebook payment service.
The social network offers its users a comprehensive list of their friends and family, making it easier to manage any personal or professional transactions with them. As the service is only just rolling out, it will be limited to debit card information for the time being. This decision was made to limit the potential for fraud and avoid excessive fees charged by other peer-to-peer payment services, such as Venmo.
Zuckerberg notes, "The payments piece will be a part of what will help drive the overall success and help people share with each other and interact with businesses. But we’re really focused on the interactions overall."