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Vodafone plays strong hand in payments by supporting Facebook Libra

Vodafone and French cable/mobile player Iliad are among the backers of Facebook’s latest ambitious bid to infiltrate every area of a consumer’s daily life, its Libra Network payments system. The launch of Libra is another sign of the death of the MNOs’ old dream of dominating the mobile payments industry. Mobile money, especially in developed markets, is in the hands of the big consumer brands – Apple, PayPal and so on. Facebook has its eyes on those rivals as it goes a step further, moving from payments to its own currency, a tactic which Amazon is expected to emulate. Facebook says it will launch its currency, and associated services, in 2020, allowing its users round the world to make online…

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