Category: Featured News

A number of Facebook apps dumped by the social network

At the same time, the top social media platform has gone ahead and shut down Creative Labs.

The initiative that was behind a range of the most experimental Facebook apps published by the social network – as well as a number of the applications it put out over the last year – have all been shut down and are no longer available for download.

Some of the mobile apps no longer available include Riff, Rooms and Slingshot, which were essentially failures.

Each of those Facebook apps were unpopular and were considered to have missed the mark in terms of what mobile device users actually want. According to the social network, it still intends to encourage experimentation. However, that will not be through Creative Labs, a type of initiative somewhat like a startup, which was quietly closed down. As of December 7, the Riff, Rooms and Slingshot apps were taken down from the app stores where they had previously been available. Moreover, the webpage for Creative Labs has also been taken down.

According to a spokesperson, the Facebook apps hadn’t received any updates in quite some time.

Facebook AppsThe spokeswoman explained that “Since their launches, we’ve incorporated elements of Slingshot, Riff and Rooms into the Facebook for iOS and Android apps.”

The social network is known for its inclination to continually “move fast and break things.” This time, it determined that some of the efforts it had made under that mantra hadn’t worked out, so it was bringing them to an end. This could potentially mark an important milestone in the development of applications under the Facebook brand, as the company turns its attention on other creative avenues.

For instance, it is still looking toward artificial intelligence (AI) technology, as well as drones that would be able to bring internet connections to highly remote parts of the world, in addition to virtual reality (VR) goggles. While the company had been continually adding new Facebook apps to offer new components of the desktop version of its service as well as to compete with other popular application offerings, it has been gradually turning toward boosting the features of its core platform, including the 360 degree videos and live streaming.

Mobile payments firm acquires Near.in in India

Paytm could improve its standing in the mobile payments space through latest acquisition

Paytm, India’s largest mobile payments firm, has announced the successful acquisition of Near.in, a local services startup. Paytm acquired the company for $2 million and believes that the acquisition will improve the company’s already considerably strong position in the mobile commerce space. Near.in is capable of connecting consumers in four of India’s large cities with various verified businesses, ranging from home repair companies to fortune tellers. Paytm believes that the services provided by Near.in will ensure more consumers are exposed to mobile payments.

Paytm is finding significant success in the mobile space

Paytm has raised some $700 million in funding from a wide range of investors, including China’s Alibaba, which has also established a major lead in the mobile payments space. Paytm processes more than 100 million online transactions every month and has begun expanding its business operations in order to connect with more consumers living in India. Mobile payments are becoming a powerful force in India’s retail space, with more companies looking to engage the growing number of mobile consumers in the country.

Firm is working with numerous companies to make mobile payments more accessible

Mobile Payments AcquisitionIn the past two months, Paytm has been making investments in various companies in order to make mobile payments more accessible. The company has invested in Jugnoo, a startup that makes use of rickshaws to make deliveries to consumers. Paytm is also working with BookMyShow and Zomato in order to support services like food deliveries and restaurant reservations. These services are available to mobile consumers, who can use their devices to make mobile payments.

Paytm will have to overcome security challenges to ensure the success of mobile payments

Paytm is expected to see more success in the mobile payments space as it begins working with a wider range of businesses. The demand for mobile payments services is growing quickly and Paytm is ideally suited to address the needs of mobile consumers. One of the challenges the company will have to overcome to ensure continued success, however, is security. Mobile payments has become rife with fraud, which has left many consumers exposed to exploitation.