Facebook Plans to Launch a Mobile Payments Service

Facebook is preparing to join the mobile-payments race with remittances and electronic-money services on the social network. According to a report carried out in the Financial Times reported last Sunday, the company is close to obtaining approval from the Central Bank of Ireland to start a service that would allow people to store money on Facebook and use it to pay and exchange with others.


The company has also had partnership talks with at least three London startups — TransferWise, Moni Technologies, and Azimo — that offer online and mobile international money transfer services.

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