Dan Schulman, group president, Enterprise Growth, American Express, says, “The way people exchange money is evolving, and so is Serve. We’re constantly working to bring our customers a seamless and consistent payment experience—one that makes sense for our increasingly social lives, whether that’s paying a friend back for movie tickets or sending someone money for your share of the vacation house—it can now be sent on Facebook.”
I believe that this will also provide competition to PayPal in terms of salaries paid out on a per-project basis, as there are over 800 million active users on Facebook, the social network is ripe for such an app to take off in a big way.