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But what about Facebook makes them positioned to do this? They're Contact list? That's openly available to devs.

If I'm paying a friend, why not use PayPal, or Bump, or just cash?

The contact list, consumer trust, and appropriate context. A third-party developer offering this has the significant challenge of making users trust them with a payment. People know Facebook and (most) trust them. PayPal or Bump are options, but are distanced from social interactions. I'd be interested to see the usage numbers from younger consumers, as I also imagine (with no data to back me up) that not many teenagers or college students use PayPal. As for cash, again it's an option, but it's pretty clear the world is going plastic. There's a reason Square is a big deal.

The contact list is part of Facebook's open API. They give it away for free.

As far as Facebook being trusting in terms of commerce, well... I don't buy it.

http://threatmetrix.com/study-reveals-only-a-quarter-of-cons...

Also - anyone remember Facebook Marketplace? Me neither. It's been stagnating for years.

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