Facebook drops Messenger payments in United Kingdom and France

Facebook drops Messenger payments in United Kingdom and France

Facebook acquired a regulatory license to avail its messenger payment services back in 2016, but the payment service never took off or gained any global appeal, thus the decision of discontinuing it is quite sensible. The Facebook stable coin is set to make debut in 6 months time and the company has already started to conduct meetings with various cryptocurrency exchanges.

On April 16, the most used social media platform, Facebook sent notices to their UK-based and France-based users that they will no longer provide P2P payment services on their countries.

"On 15 June 2019, we will discontinue P2P services on Messenger or through Facebook messages for all residents in the United Kingdom and France", the company noted in a short statement on its main help page for the payments service.

The ability to complete other transactions, such as making donations to charitable organisations, will remain in place.

Why This Sudden Change?

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According to TechCrunch, Facebook's official statement on the change suggests that the option hadn't proven very popular with users.

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Users who've used the payment system in the past received a personal message in messenger app with information on the stop. The company says it will focus its efforts on experiences that people find more useful and is now informing users who used the feature for the upcoming changes.

Facebook had recently been reported in seeking major venture capital firms to invest for their $1 billion-target crypto fund.

THE SOCIAL NETWORK Facebook has confirmed that it's shutting down its payment by Messenger service.

As said, competition can not be healthy all the time.

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