One day after Facebook casually announced that it had eclipsed the 350 million user mark, I’m going to revisit the question of who will succeed in developing the dominant Web 2.0 payment system.
In my previous post, I made the case that PayPal was better positioned than Facebook to achieve this, a position I stand by [...]

Call it micro-payments, social networking payments, virtual currency, or whatever you like, but speculation is heating up as to who will develop a service that addresses Web 2.0’s payment needs.
PayPal claimed this mantle for the first incarnation of the internet. As I detailed in The PayPal Wars, when Peter Thiel, Max Levchin, David Sacks, Reid [...]