Aug
06
Facebook Shares Rise on Optimism for Banking Relationships
By-
Social network seeks partnerships for customer communications
- Information won’t be used for advertising, company says
Facebook Inc.’s shares rose on optimism that the company is forging deeper relationships with banks to offer customer-service products via its Messenger chat application, a business that could boost engagement as growth slows on its main social network.
Facebook has for years worked to make Messenger a natural place for consumers to communicate with businesses, aiming to replace email. Customers who opt in can already receive some airline boarding passes and receipts from PayPal transactions on Messenger. To do the same with major banks, Facebook has been trying to convince them that the conversations will be secure and customers’ personal data won’t be used in advertising…
