This time Facebook (NASDAQ:FB) believes its added QR code functionality finally hits the mark.
After earlier attempts at testing the technology, Facebook has added QR code functionality on Messenger, a move analysts see as a direct charge at Venmo and Zelle. What is different this time is functionality extends beyond current Facebook users. If this works analysts at PeerIQ believe it could quickly spread to Marketplace and Instagram.
In a public statement, PeerIQ said this functionality aligns with Facebook’s oft-maligned Diem stablecoin. This Messenger test could be the beginning of a Diem-based payments network.
“With nearly three billion users across its platforms, developing viable payments tools, even if used only within Facebook, could turn into a material business for the social network,” PeerIQ said.
