1Q EARNINGS: Questions Stonewalled On Facebook’s Entry Into Electronic Currency

By David Cohen 

PayButton650Despite attempts by analysts Heather Bellini of Goldman Sachs and Ross Sandler of Deutsche Bank to find out more about Facebook’s reported impending entry into the electronic currency arena, Chief Operating Officer Sheryl Sandberg would not budge during the company’s first-quarter earnings call Wednesday.

Bellini asked:

I was just wondering, Mark or Sheryl, if you can share with us your vision of payments for Facebook, and how the company might be able to play a role in reducing the friction that exists today when users are trying to engage in mobile ecommerce.

Sandberg responded:

On payments, our payments business has been important in supporting some of the developer activity on Facebook, primarily games. So we continue to be interested in that.

Sandler tried:

There’s been some press recently that Facebook is looking at building peer-to-peer money-transfer services. Is that a market that you view as an opportunity? Would that fit into Messenger or potentially a stand-alone application?

Sandberg would only answer:

We have had our payments business for a while, and we continue to have one, and nothing new to add there.

Readers: What do you think about the possibility of Facebook entering this sector?

Image courtesy of Shutterstock.