Facebook prepares its money transfers and mobile payments service


The company co-founded by Mark Zuckerberg prepares its own mobile payment service, which would allow Facebook users to perform various types of transactions. Reported by the Financial Times, quoting several sources close to the project, the lead would have everything ready for the approval of the Central Bank of Ireland, the country elected to establish this new feature of the social network.

facebook money transfers service

In this way, the service would allow Facebook users can have a balance for purchases and money transfers service with other members of the social network. Both the Central Bank of Ireland and the US Company not made statements about this initiative, after being consulted by the Reuters Agency.

In turn, the Financial Times reports that Facebook had meetings with several British start-ups, such as TransferWise, Moni Technologies and Azimo, who specialize in providing online money transfers.

Thus, Facebook joins the race to offer its own payment platform and exchange of money, a disputed both by banks and technology companies by segment. One of those interested in taking this strategy is BlackBerry, which plans to use its mobile messaging service BBM for members of its platform, estimated at 85 million users, can use various financial services.

For its part, Google has its Wallet service, which seeks to make a walk in ATM transactions with the launch of their own debit card. Who also seeks to go beyond online transactions is PayPal, which launched its own device that transforms any smartphone into a card reader, the Square style.

Meanwhile, Visa and Mastercard, major credit card operators, seeking to unify mobile payments, in a growing market where nobody wants to stand apart.

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