We received some great news today. Facebook has elected to postpone their electronic payment system indefinitely. See this link for details.
This is obviously important to us as it removes one major potential competitor from our arena. However, many industry observers still see the need for a payments platform. See this link for one opinion on the topic.
While Facebook would not have directly competed with us, their entry and offerings would have confused our market. We don’t want to provide a full payment platform like they would, just a specialized payment engine. This announcement gives us maneuvering room and, in some ways, confirms our opportunity.
I’m feeling very good about this!