Facebook to get into mobile payments

Posted on Tuesday, Apr 15 2014 @ 13:14 CEST by Thomas De Maesschalck
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New hit the wire that Facebook is planning to enter the mobile payment market. The social networking giant filed an application with the central bank of Ireland in order to start its service and is expected to receive approval in the coming weeks. Once approved by Ireland's central bank, Facebook will be able to roll out its mobile payment service throughout the EU.
Facebook users will be able to store money and use it to pay and exchange with others on the social giant.

Facebook has been trying to secure a position in the mobile payments race via potential partnership talks with London start-ups like TransferWise, Moni Technologies and Azimo, which all offer online and mobile international money transfer services.
Source: DailyTech

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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