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Talk Social: 19 November, 2019

Facebook launches a new payment system

Facebook has revealed Facebook Pay, a single payment system that will work across all its owned apps, including Messenger, Instagram, WhatsApp and Marketplace.

The social media giant has claimed that the new system is designed to make payments easier and more secure. They have also been careful to note this is separate from Libra and its cryptocurrency wallet projects.

Pay has so far been rolled out to American Facebook users on Marketplace and Messenger.

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Libra project chugs along despite regulatory deadlock

Facebook’s Libra Association announced “Five months and growing strong” in a blog post that then neglected to mention its numerous setbacks and the fierce opposition it has received from banking regulators.

The blog focuses on the progress made to build a community of developers and the required technical infrastructure.

The point of which is up for discussion given Facebook has been unable to address and satisfy the American Congress’ questions.

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Instagram’s hidden likes campaign goes global

A week on from expanding its test of hidden like counts to the US, Instagram is broadening the experiment to all regions.

It’s not known how many people are in the test but many UK based users have noticed they no longer see the total number of likes and views of photos and videos posted to their feed.

Instagram CEO, Adam Mosseri, has recently spoken about this test, acknowledging this could make it more difficult for influencers to showcase their worth to brands, but said ultimately they “[…] will make decisions that hurt the business if they help people’s well-being and health.”

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Google to expand into banking

Google has started to offer bank accounts, becoming the latest big Silicon Valley company to step into the financial service sector.

The project, codenamed “Cache”, could launch as soon as next year, and will be offered in partnership with Citigroup and a small Stanford University credit union.

This move follows the emergence of a number of other tech-focused banks, including Monzo and Revolut, the former of which launched in the US this year. Left in the middle, traditional banks could soon start to feel the squeeze.

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Disney+ receives over 10 million subscribers in its first day

Disney+ launched across the US, Canada and the Netherlands last week to massive excitement.

The streaming service surpassed 10 million subscribers in its first day and the app has been downloaded more than 3.2 million times so far. This happened despite tech problem affecting users throughout the first day.

The challenger to Netflix’s dominance includes content from Marvel, Star Wars, Pixar and The Simpsons and more.

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