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How Facebook’s Reliance Deal Upends a $1 Trillion Digital Arena

  • WhatsApp buys its way into a turf war waged by Google, Amazon
  • Facebook’s entry may have implications for global payments
Facebook signage on a smartphone.
Facebook signage on a smartphone.Photographer: Gabby Jones/Bloomberg

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An innocuous WhatsApp “Hi” could end up transforming a $1 trillion industry.