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bricestacey | 8 years ago

Instagram isn't a bank

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drewmol|8 years ago

Not yet... Preemptively fulfilling KYC requirements probably eases the barriers to incorporating financial services into the platform. I'm not a fan of this, just thinking out loud

bricestacey|8 years ago

It seems like a stretch to think Instagram is entering the financial services space. Facebook owns Insta and Messenger already offers payments. It's probably more likely that Instagram is using traditional KYC tools, probably developed for other parts of the Facebook ecosystem, to influence other KPIs such as the number of bots in the system. But that's just my own guess as well.

nerflad|8 years ago

I didn't have to show ID to create my Paypal or Venmo accounts.