Is this a sign of things to come?
The buzz in Palo Alto is that Facebook is already testing their payments system that will compete with Paypal. While Paypal today dominates the small business market for payments made electronically, Facebook hopes to overtake the industry by allowing payments from its users to merchants – and from merchants to users!
Other than cheaper rates (which won’t affect small business owners greatly) Facebook is perfectly poised to dominate this market, and here’s why –
