G_B_ Posted July 19, 2019 Posted July 19, 2019 https://www.indiatoday.in/technology/news/story/whatsapp-inches-a-step-closer-to-launching-whatsapp-payments-in-india-1571237-2019-07-19 Good or bad? Will you use whatsapp payments? FB are saying it will reduce cash payments drastically as its aimed at small transactions upto Rs 5000
R!TTER Posted July 19, 2019 Posted July 19, 2019 Just now, G_B_ said: FB are saying it will reduce cash payments drastically as its aimed at small transactions upto Rs 5000 Are you talking about FB's libra or Whatsapp (payments) owned by FB
gattaca Posted July 19, 2019 Posted July 19, 2019 Don’t trust Facebook or any of its companies. Even though I am shareholder in the company. I never trust them I haven’t used Facebook in probably 5 years. beetle and Turning_track 2
gattaca Posted July 19, 2019 Posted July 19, 2019 (edited) The whole point is Facebook will starting mining data they will track your purchases and plans on selling data to big companies like Amazon or Walmart. Amazon and Walmart kill small and medium sized companies after gaining access to customer interests and like and what they paid. They will design marketing and sales strategy around that. People would be stupid to give this data to Facebook. Does India even has anti trust laws to stop these kind of things from happening ? Eu does that but still small and medium sized companies vanish but the governments collect fines from big corporates what is the point of collecting fines when businesses go bankrupt ? Edited July 19, 2019 by gattaca beetle and Turning_track 2
G_B_ Posted July 19, 2019 Author Posted July 19, 2019 isnt that happening via the traditional banks anyways? they too mine your data.
gattaca Posted July 19, 2019 Posted July 19, 2019 19 minutes ago, G_B_ said: isnt that happening via the traditional banks anyways? they too mine your data. Banks don’t sell Data. At least they are restricted by laws. Data is not main source of income for banks. It is for Facebook. beetle 1
velu Posted July 19, 2019 Posted July 19, 2019 Bitches will start asking to transfer money through WhatsApp instead of Paytm @SLICKR392 WC2011INDIA 1
R!TTER Posted July 19, 2019 Posted July 19, 2019 Just now, G_B_ said: isnt that happening via the traditional banks anyways? they too mine your data. No not really, if you exclude "hybrid" banks like Paytm - that's not true for traditional banking system.
velu Posted July 19, 2019 Posted July 19, 2019 2 hours ago, gattaca said: Don’t trust Facebook or any of its companies. Even though I am shareholder in the company. I never trust them I haven’t used Facebook in probably 5 years. Reddy Babu Garu
gattaca Posted July 19, 2019 Posted July 19, 2019 20 minutes ago, velu said: Reddy Babu Garu I am not reddy. velu 1
Mariyam Posted July 22, 2019 Posted July 22, 2019 On 7/19/2019 at 5:20 PM, gattaca said: The whole point is Facebook will starting mining data they will track your purchases and plans on selling data to big companies like Amazon or Walmart. Amazon and Walmart kill small and medium sized companies after gaining access to customer interests and like and what they paid. They will design marketing and sales strategy around that. People would be stupid to give this data to Facebook. Does India even has anti trust laws to stop these kind of things from happening ? Eu does that but still small and medium sized companies vanish but the governments collect fines from big corporates what is the point of collecting fines when businesses go bankrupt ? Not the same way they are designed in the US. India doesn't make 'dominance' illegal. But abuse of the market from a position of relative dominance is prohibited. There is also a code of cartel conduct.
Mariyam Posted July 22, 2019 Posted July 22, 2019 On 7/19/2019 at 6:07 PM, G_B_ said: isnt that happening via the traditional banks anyways? they too mine your data. Bank's in India can't officially mine your data. Not even the Paytms. Its a huge red flag. On 7/19/2019 at 5:17 PM, gattaca said: Don’t trust Facebook or any of its companies. Even though I am shareholder in the company. I never trust them I haven’t used Facebook in probably 5 years. People could use Facebook/Whatsapp money to just settle scores and pay small amounts/grocery/utility related bills. And there maybe be pre-requisites that FB money would/should be linked to a resident bank account from which the user can withdraw money. There are dime a dozen of these in India. It would mostly be a dud like PhonePe or Ola Money.
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