Facebook Inc.
FB
+0.50%
is getting ready to launch financial services, which would let people
make payments and store their money via its social network, the Financial Times reported
Monday. It is seeking regulatory approval in Ireland for the service,
with a decision only weeks away, the FT said, citing people involved in
the process. Under the plans, Facebook's "e-money" would be a claim
against the company and be valid in Europe. Alongside this, the
social-networking provider is looking into partnerships with
London-based companies focused on online money transfers: TransferWise,
Moni Technologies and Azimo, the report said. Facebook had not responded
to a request for comment at time of writing. Facebook shares rose 0.1%
ahead of the open.
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