How Facebook Is Monetizing Its Messenger App

NEW YORK (TheStreet) -- Facebook (FB) is now letting people use its messaging app without having to sign up for Facebook first, opening the door for further monetization of Facebook Messenger.

Non-Facebook users in Canada, the U.S., Peru and Venezuela will now be able to access the messaging app through a separate function on the app's home screen with only their phone number, name and photo.

The announcement comes as Facebook continues to make strives in monetizing its messaging app, which is currently the number one ranked app in the United States, according to app tracker App Annie. The original Facebook app is the second ranked app in the United States.

At its F8 Developer Conference in March, Facebook announced new ways for third parties to develop their apps so that they integrate into the Messenger app itself. In another attempt at monetization, Facebook said users would now be able to make payments to other Facebook users through the Messenger app. The company also announced ways for businesses to communicate directly with customers and accept payments from customers through the app.

"We launched the Messenger platform, which allows people to use creative new apps to have richer conversations," CEO Mark Zuckerberg said in the company's first quarter earnings call, held in April. "We also began rolling out payments on Messenger to give people an easy, secure way to send money to their friends. And we announced a new way for people to communicate with businesses using Messenger."

If you liked this article you might like

Kraft Heinz's New CFO Is Just 29

These Powerful Corporate Executives Could Make a Run at the Presidency in 2020

PayPal CEO Reveals How Silicon Valley Could Repair Its Broken Culture

Zuckerberg, Facebook Directors Settle Delaware Suit Over Voting Rights

North Korea's Nuclear Threat Pressures Wall Street at Trading Week's End