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Seriously? Ads?

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Re: Seriously? Ads?

#111

Post by excuse-me »

JumpCrisscross wrote: post #98

> Fraud. Paypal and others use complex algorithms, special teams and God knows what. But Facebook has an unique and unparalleled data base of a user’s history, friends, activities and what not. The author seems to confuse credit risk and fraud risk. Credit risk pertains to the probability of you being unable or unwilling to honour your commitments. Fraud, within this context, pertains to the unauthorised use of funds…

But pay-with-facebook is also going to be limited to what you can buy - so thewir risk is greatly reduced

They don't have to worry about stolen cards used in the high street, they don't have to do cash advances, they don't have pin pads skimming people's pins in stores.

Re: Seriously? Ads?

#112

Post by rmc »

jurre wrote: post #27
mtts wrote: post #23

Earlier quoted context omitted.

Google Wallet is actually fairly useless. To load it up you need a credit card. If you have a credit card, you could just as well, uhm, use a credit card.

I think your parent was being sarcastic. We need a sarcasm tag in HTML.

There is an irony/snark/sarcasm punctuation symbol in English: ⸮

cf. http://en.wikipedia.org/wiki/Irony_punctuation

Re: Seriously? Ads?

#113

Post by rmc »

mtts wrote: post #75
Adirael wrote: post #58

Earlier quoted context omitted.

My VISA (chip + PIN) works without any problems for online purchases. Some sites even transfer me to my bank's payment gateway that sends me an SMS with a number in order to be able to pay. I don't have a credit card. I know a lot of people who does but rarely uses them, debit cards feel more secure than credit cards against theft/fraud (and I'm not really sure if they are, I don't think so).

My VISA ... I don't have a credit card Visa is a credit card, however. In Europe, it's often tacked onto a regular debit card, but it's a separate thing not everyone has.

You can get "Visa Debit" cards

Re: Seriously? Ads?

#114

Post by rmc »

digitalsushi wrote: post #29

It would be very convenient for someone, somewhere, to establish a widely accepted micropayment system for the Internet. I sure can just whip out the CC, type in the 16 things, the special code, the expiration date, maybe a second screen the CC vendor presents to get my address or phone number for additional verification... But I would never bother for a 3 or 5 cent article. And I firmly believe that's why there is n…

It would be very convenient for someone, somewhere, to establish a widely accepted micropayment system for the Internet.

Google Adsense fills that niche. People who run a website get money from teeny little clicks that their vistors do.

Re: Seriously? Ads?

#115

Post by tatsuke95 »

zdw wrote: post #7

Seriously? Linking your checking account with Facebook? It would definitely be the next step in user lock-in, but you'd start competing with banks and everyone else who offers a way to pay. Now, I wouldn't complain if they bought some "bypass the credit card companies" service like Dwolla...

>"bypass the credit card companies"

I have both an American Express and a Visa (because Amex just isn't accepted some places). The customer service has been nothing but amazing, even when dealing fraudulent charges. And the cards are accepted everywhere.

What I'm saying is, I don't feel any need whatsoever to bypass my credit card company to pass my information off to a start up.

Re: Seriously? Ads?

#116

Post by iamgilesbowkett »

mtts wrote: post #71
jurre wrote: post #27

Earlier quoted context omitted.

I think your parent was being sarcastic. We need a sarcasm tag in HTML.

I was aware of that. But parent did raise an interesting point. Google Wallet isn't doing too great. Why?

the sheer number of possible answers is overwhelming, but pretty much everything Google does fails, except for search and email. (I can't be the only one who's afraid to find out what their cars are like.) so I'm going to say the reason Google Wallet failed is because it was neither search nor email.

I guess you could say Android is only half a failure, because the constant catch-up game they're playing with Apple isn't going as badly as the constant catch-up game Google Plus (and Wave, and whatever they called the other one) plays with Facebook.

but seriously, business failure can happen for so many reasons, it doesn't really mean anything at all, unless of course you see a string of people failing at the same thing.

Re: Seriously? Ads?

#117

Post by rmc »

JackFr wrote: post #37

It's a possible but hardly compelling: Facebook: ~ 1 billion customers Visa: ~2 billion cards out there. Facebook: ? merchants. Visa: > 10 million merchants. Facebook: potentially disruptive to the existing market Visa: 50+ years experience with electronics payments processing, fraud detection, government relations and consumer credit marketing Facebooks main competitive advantage is(was?) relatively cheap capital. h…

Facebook don't have 1 billion customers. They have 1 billion users. If you don't pay for something (Facebook) you are not a customer, you are the product.

Re: Seriously? Ads?

#118

Post by rmATinnovafy »

Aside from the points the author makes, this would also improve Facebook's advertising model a lot. They would have purchasing information from basically every segment/product/niche/market out there.

You put an ad on Facebook. People click on it an buy with FB-pay. You then get a ton of marketing data to better aim your ads. Tine of purchase, day, credit card type, marital status (confirmed versus Fb status), income information, billing address, etc.

All in one convenient place. How much would businesses pay for that? A lot. Evidence? Call your local mailing list broker and ask for a quote.

Of course, this will set off what I call "the privacy wars". Where the government will step in after some single mother of three is scammed and the story is picked up by some mommy-blogger who then sells the story to the huffington post, who then sells the article to CNN, who then puts it on TV. Then FOX makes a deal out of it, republicans notice, and make some lobbyist-impregnated bill that includes the "single-mommy law for online privacy".

But, we've had this coming for a while.

Re: Seriously? Ads?

#119

Post by planetguy »

startupfounder wrote: post #110
JumpCrisscross wrote: post #98

> Fraud. Paypal and others use complex algorithms, special teams and God knows what. But Facebook has an unique and unparalleled data base of a user’s history, friends, activities and what not. The author seems to confuse credit risk and fraud risk. Credit risk pertains to the probability of you being unable or unwilling to honour your commitments. Fraud, within this context, pertains to the unauthorised use of funds…

"The Economist recently put the fraud loss rate at approximately 0.35% of transactions and up to 1.8% for online payments" For the ~$2 trillion[1] going through online payments, bringing down the online fraud loss by every 0.1% is equal to $2B, if over time Facebook can reduce that online fraud rate by 0.5% or more there is your $10B. Using your real identity to make online payments could reduce that to real world le…

Using your real identity to make online payments could reduce that to real world levels

How many of your friends have had their facebook accounts stolen? For me, it's a few percent. "Oh look, another random acquaintance is stuck in Abu Dhabi and needs me to wire them some money"

Facebook security isn't nearly good enough to be handed my wallet. Actually it's not my wallet that's the problem, it's the wallet of everybody who uses "password" as a password.

Re: Seriously? Ads?

#120

Post by planetguy »

mtts wrote: post #71
jurre wrote: post #27

Earlier quoted context omitted.

I think your parent was being sarcastic. We need a sarcasm tag in HTML.

I was aware of that. But parent did raise an interesting point. Google Wallet isn't doing too great. Why?

Because internet payment is a solved problem. Here's my credit card number, click click.

It works, it's easy enough, and I'm not sure I want it to be any easier.

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