Facebook continues to diversify its business and explore new horizons. After the recent acquisitions of WhatsApp Messenger and Oculus VR, reports suggest that the Social Networking giant is planning to join the Mobile Payments race by offering electronic money services on the social network. The news arrives at a time when we see a number of new entrants joining in - recent ones being Chinese leading search engine, Baidu and the Canadian based firm Rogers Communication. So is Mobile Payment the next big thing? Will Facebook be able to sail smoothly with its new offering?
Our ODM data shows that the Reach for the genre is relatively higher amongst users in India and the US but is yet to gain popularity in Indonesia, Malaysia, Philippines and Thailand. Barring users from India, low engagement levels are seen across other geographies. With such low penetration, it might well present a challenge to Facebook and the other new entrants in the Mobile Payment space.