Tuesday, April 12, 2011

Paypal is about to get a Bruising from Facebook and Square

Paypal just cannot compete with Facebook and Square. Both Facebook and Square outsizes Paypal by far, and the latter will not be able to weather the storms in the payment market. Facebook's mere size is beyond belief which can do huge damage to Paypal's market share, once Facebook decides to vigorously pursue the online payment market. Facebook is a household phenomenon and with well thought through strategy to enter the payment market, and a public relations stint to back it up, will easily catch on to FB users because of the nature and position FB has taken in our lives. Well, unless by some strike of genius and luck, Paypal joins forces with Paypal, an unforeseen merger in my opinion.

Square's service offering of secure payment via credit card through mobile phones, amongst others, is in the right market with exponential growth potential to their existing 1 000 000(million) credit card processing payments per day. Like I said, it can only grow.

Ohad Samet writes an interesting article for Tech Crunch, discussing this topic:

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