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Zuckerberg says “People share more photos, videos, and links on WhatsApp and Messenger than they do on social networks.” 

“Our biggest competitor by far is iMessage. In important countries like the US where the iPhone is strong, Apple bundles iMesssage as the default texting app, and it’s still ahead” Zuckerberg notes.

Mark Zuckerberg stressed that sharing is shifting to private chat, where people send 100 billion messages per day on Facebook’s family of apps, and Stories, where he says people share 1 billion of these slideshows per day (though it’s unclear if that includes third-party apps like Snapchat).

nstagram hopes that allowing people to complete their purchases inside the app will inspire them to shop more — and to create a big new business for parent company Facebook, which has recently signaled that it expects commerce and payments to represent the future of the company. For now, payment information stored with Facebook will only be used on Instagram. But it’s easy to imagine Facebook letting you use your credentials elsewhere in its family of apps.

In the meantime, Facebook says it won’t share your payment information with other users or with retailers.

Instagram believes shopping represents a massive new business opportunity. The Verge reported last year that the company is building a standalone shopping app. It also said Monday that 130 million people a month tap on product tags in shopping posts.