The Reserve Bank of Australia's Payments System Board is the payments regulator in Australia but it may not have to formally approve Messenger payments, industry sources said.Īs long as Facebook makes an agreement with a payments gateway and acceptance service to facilitate access to Australia's payments infrastructure and abides by the Australian Securities and Investments Commission's consumer codes of conduct, it will be able to begin offering payments through Messenger. Facebook launched P2P payments in the US in 2015 after hiring former president of PayPal, David Marcus, as its vice-president of messaging. On November 7, Facebook launched Messenger payments in Britain and France, marking the second and third markets it has expanded the service into, the first being the United States. And so I have nothing to report for Australia specifically but I can tell you that we're very bullish overall about payments." "Our goal would be to deliver a seamless and frictionless consumer experience that will not only be transformational for peer-to-peer and consumer but also how consumers can interact with businesses. we are looking at all markets," she said. "We obviously have payments in the United States. Sources said Facebook is targeting a 2018 launch in Australia, however the introduction is dependent on a number of regulatory requirements being met in time.įacebook vice-president of global marketing solutions Carolyn Everson told the Financial Review the company was excited about its payments service but did not have an announcement to make with regards to Australia and confirmed it was looking at global expansion. More than 13 million people use Facebook Messenger in Australia each month, a figure that will have local banks – who have invested more than $1 billion in their own P2P payment platform – worried the Silicon Valley giant will vacuum up their customers.įacebook has global plans for Messenger payments. In July, The Australian Financial Review revealed Facebook had been awarded a patent to allow it to launch Messenger payments in Australia, which will allow users to pay family, friends and groups once they have linked up a bank-issued debit card to their social media account. “It’s not the hardest thing to hack an account within China,” Smith told Australian Broadcasting Corp.Facebook's challenge to Australia's big banks is coming as early as next year, when the social media giant is expected to introduce peer-to-peer payments within its Messenger service, hot on the heels of local banks' expected launch of their own P2P payments network. “It is more likely that it was sanctioned by the state and it reflects the attitude towards freedom of expression and freedom of expression emanating from Beijing,” Sharma said.Ĭhina expert Graeme Smith of the Australian National University said Morrison’s account was registered with a Chinese national in China’s Fujian province. Sharma said Morrison used WeChat to connect with Australia’s Chinese diaspora, but ultimately the social media platform is controlled by the Chinese Communist Party. Liberal Party legislator and former diplomat Dave Sharma said intervention by the Chinese government was likely to be approved. Read Also: Biden ends national emergency over COVID-19įergus Ryan, a Chinese social media expert at the Australian Strategic Policy Institute, tweeted that Morrison was one of at least a dozen Australian politicians who now use WeChat accounts registered for Chinese citizens.
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