If Facebook issued its own digital currency, and all its users had a Facebook mobile wallet with Facebook coins in it, then the need for credit cards will diminish more and more.
You make a purchase online, you pay for it with Facebook coins. Many apps have already integrated user sign-in with Facebook accounts. Payment is just another step away.
You buy a latte at Starbucks, you tap your phone at the counter to pay with Facebook coins instead of Apple Pay or Google Wallet. Facebook will definitely roll out marketing incentives for users to pay with their Facebook mobile wallets at the point of purchase. This is how existing mobile wallets battle it out for market share.
And if Facebook is backing the conversion value of its coins with real world money, few would see the need to convert their Facebook coins in and out of their Facebook mobile wallets frequently.
Read More.. Source Medium