Social media giant, Facebook, announced it is entering the payment services space. Jack Mohr, Director of Research for Action Alerts PLUS, tells TheStreet’s Jill Malandrino Facebook has a great opportunity to capture market share as the international money transfer is a $500 billion market (in annual revenue), with $3 trillion exchanged daily across the globe. In addition, Facebook already has an established network of 1.4 billion users and its share of Internet minutes across mobile and desktop are well above peer. Mohr explains Facebook is a stock that you hold, just like Apple, because of the of the ecosystem and how the companies are continuing to leverage and expand it.
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