Social Media Newsfeed: Facebook Messenger Mobile Payments | Yahoo to Invest in Snapchat

Stanford student developer discovers Facebook Messenger mobile payments service. Yahoo may invest millions in Snapchat. These stories, and more, in today's Morning Social Media Newsfeed.

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NewFacebookLogoFacebook Messenger Hack Reveals Mobile Payments Service (Mashable)
Not content to manage the news updates and friend connections of its over 1 billion users, the long arm of Facebook is now reportedly preparing to enter the world of mobile payments. According to a report from TechCrunch, Andrew Aude, a student developer at Stanford, discovered the as-yet-unreleased feature of Facebook Messenger by using the iOS and Mac OS X hacking tool Cycript. VentureBeat Security researcher Jonathan Zdziarski posted last month that he found payments-related code in Messenger, and Aude said that discovery prompted him to look further. In June, Facebook hired ex-president of PayPal David Marcus to take the reins of Facebook Messenger, and that hiring ramped up speculation that a payment feature was coming to the app. To send a payment along, you can either input a brand-new card or use one you already have on file with Facebook — and, yes, your payment system can be protected by a unique PIN number, just in case you lose your smartphone and someone decides to send themselves a ton of your cash (which would make it rather easy to find to culprit, we suppose). So far, it appears as if users can only use their debit cards with the payment service — presumably, because the fee for doing so is much less than forwarding someone cash via a credit card charge or direct pull from one’s bank account. Gizmodo Aude told me Facebook can turn the feature on or off on a user-to-user basis, and he suspects some Facebook employees already have access to a live version. He also found a note that indicates payments between multiple parties is coming, though right now the feature only works for a transaction between two people.

Yahoo Nears Investment in Snapchat (The Wall Street Journal)
Yahoo plans to reinvest a small portion of the cash it made from an early bet on Alibaba Group Holding Ltd. in another fast-growing startup: Snapchat. The Internet portal has committed to an investment in Snapchat at a $10 billion valuation, people familiar with the matter said. One of the people said Yahoo is investing about $20 million.

10 Tips for Using Instagram to Create Fans and Make Sales (SocialTimes)
If you are marketing to teens (and college-age youths), the time has come to beef up your Instagram presence. Here are tips for using Instagram to build your fan base and generate sales revenue, based in large part on what we learned during the successful launch of our sister company, Pro Stock Hockey.

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McCann ‘Twitter Troll’ Found Dead in Hotel (BBC)
A 63-year-old woman who was allegedly part of an internet hate campaign against the family of Madeleine McCann has been found dead in a hotel. Brenda Leyland, from Burton Overy, Leicestershire, was accused of being one of the so-called “trolls” directing abusive messages at the McCanns.

Business Manager: Facebook’s Guide for Agencies (AllFacebook)
News first surfaced in March about Facebook’s Business Manager, which was described as a single interface for enterprises and agencies to manage multiple ad campaigns and pages. The social network then announced in April that it was expanding the availability of Business Manager, but details about the tool have been scant, until now.

Netflix Gets a More Visual Layout on Mobile; iPhone Users Can Soon Search Titles By Actor too (The Next Web)
Netflix has given its Android mobile and tablet app a bit of a refresh this weekend, as the streaming giant rolls out a more visually-focused layout for search results. This move echos its existing interface on the Web, TVs and game consoles, and Netflix adds that the iPhone incarnation will be included in this update shortly.