Rachel O’ Dwyer: The Bank of Facebook

Marshall McLuhan argued that money is communication. This rings particularly true at a time when so many platforms are entering the payments space. The US payments app Venmo has created a social network for payments, while the Chinese mobile messaging app WeChat has created social and playful ways of exchanging payments as messages, even incorporating the traditional Chinese ‘Hung Bao’ (red envelopes) into the payments process.

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