5 ms·

Instagram isn't a bank

• drewmol 9y 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 9y 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 9y ago
    I didn't have to show ID to create my Paypal or Venmo accounts.