Facebook Inc is preparing to join the mobile-payments race with
remittances and electronic-money services on the social network, the
Financial Times reported on Sunday, citing several people involved in
the process.
The company is close to obtaining approval from the Central Bank of Ireland to start a service that would allow users to store money on Facebook and use it to pay and exchange with others, the people told the FT.
The company has also had partnership talks with at least three London start-ups - TransferWise, Moni Technologies and Azimo - that offer online and mobile international money transfer services, three people involved in the discussions told FT.
Facebook's specific plans, including which countries the electronic-money services would be available in, were not immediately clear.
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The company is close to obtaining approval from the Central Bank of Ireland to start a service that would allow users to store money on Facebook and use it to pay and exchange with others, the people told the FT.
The company has also had partnership talks with at least three London start-ups - TransferWise, Moni Technologies and Azimo - that offer online and mobile international money transfer services, three people involved in the discussions told FT.
Facebook's specific plans, including which countries the electronic-money services would be available in, were not immediately clear.
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