Facebook To Challenge Paypal With Mobile Payment Services

Monday, April 14, 2014

Facebook To Challenge Paypal With Mobile Payment Services

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Facebook will soon start offering mobile payment services on the social network, the Financial Times reported on Sunday.

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 TransferWise, Moni Technologies and Azimo, the report added. These companies are offering online and mobile international money transfer services.