2Q EARNINGS: Facebook Is a Payments Partner, Not a Competitor

Facebook Co-Founder and CEO Mark Zuckerberg said during the company’s second-quarter earnings call Wednesday that when it comes to payments, the social network considers itself a partner to existing players, and not a competitor.

FacebookPaymentsBanner650Facebook Co-Founder and CEO Mark Zuckerberg said during the company’s second-quarter earnings call Wednesday that when it comes to payments, the social network considers itself a partner to existing players, and not a competitor.

In response to a question from JPMorgan Analyst Douglas Anmuth, Zuckerberg said:

We will clearly do work in payments, to accept payments for advertising and on platform and other things that we do. But just because we will do that, it doesn’t — we still basically view ourselves as a partner to other companies in the payment space, rather than trying to compete directly for that.

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