World’s First: Social Network to Launch Mobile Payments

World’s First: Social Network to Launch Mobile Payments

It wasn’t two weeks ago that I discussed the potential for social networks to become banks. Today Hyves, the biggest Dutch Social Network with over 60% of the population in its database, announces it is going to launch mobile payments. This is significant primarily because Hyves becomes the first social network in the world to accept mobile payments.

Hyves users will be able to transfer money to one another without any transaction costs, and the company aims to earn money from commercial transactions between companies and its users.

Another conference. “Great.”

This one’s different, trust us. Our new event for New York is focused on quality, not quantity.

This is great news for the Dutch and will hopefully inspire global social networks, such as facebook, to follow suit.

Read next: Google launches DoubleClick Ad Exchange

Shh. Here's some distraction

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