The Facebook (FB)-backed digital currency diem is set to begin a trial later this year, marking the company’s first foray into cryptocurrency since its embattled Libra project, CNBC reported on Tuesday.
The plans come months after the formation last August of Facebook Financial, a division that oversees online payments, which CEO Mark Zuckerberg said on an earnings call that month would “only grow as a trend.”
In a new interview, Carolyn Everson — vice president of Facebook’s Global Business Group — doubled down on the company’s commitment to digital payments, saying it has “very, very big plans” in the area. She emphasized the importance of expanding direct payments between users as well as between users and businesses, saying the company wants such services to be available “globally.”
“We certainly have very, very big plans around being able to facilitate payments between businesses and people and people to people,” says Everson, an executive at the company since 2011.
“We see being able to provide payment services globally as a really important service that we need to provide to both businesses and consumers,” she adds.
“Many people have said — whether it’s [Vaynermedia CEO] Gary Vaynerchuk or [Andreessen Horowitz Co-founder] Marc Andreessen — we’re on the cusp of the next major, major evolution around the future of fintech,” she says. “I think it’s a super exciting area.”
Everson cited digital payment tools already on its platforms, such as Facebook Pay, a feature available to users in the United States and nearly 20 other countries that allows them to send each other money over Facebook Messenger. The payment tool keeps users on the platform who might otherwise leave for apps like Venmo or Paypal (PYPL), thereby increasing engagement and ad revenue, The Verge observed last August.
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