Facebook-a Step Closer to Mobile Payments

Facebook will soon be accepted as ‘e-money’ service provider and will be able to offer money transfers throughout the EU.

Facebook has the ambition to be more than a social picture gallery. Where Facebook last week removed functionality from their app, can now be new features on the way.

Facebook will now, according to the Financial Times, the ability to transfer funds between Facebook users. The social giant is for only a few weeks from approval as ‘e-money’ institution in Ireland. Armed with this Facebook can offer both payment and transfer services through their network-throughout the European Union.

FT.com reports that Facebook is looking to hook up with Transferwise, Moni Technologies and Azimo. All together start-ups companies, specialized in international money transfers between individuals. Will Facebook make it possible to send money online to abroad.

A source close to Facebook confirm intentions to FT.com: ‘Facebook will build and monet the basic infrastructure in EMEA countries, and financial services to pick the markets up‘.
It remains to be seen when and whether Facebook payments will come to Denmark.