According to reports this morning, Facebook is now just “weeks away” from securing Irish Central Bank approval that would allow the company to provide financial services to users.
Do you like the idea of storing money on Facebook? Or how about the ability to pay off the ‘lost-bet money’ that you’ve owed to your mate for quite some time via the social media site?
Well that’s what the future holds for Facebook, as the company is just “weeks away” from obtaining approval for a new e-money service, according to an article in the Financial Times.
The service will allow Facebook users to store money on the site, as well as use it to “pay and exchange” money with other Facebook users in the form of remittances and electronic money.
Unsure of what e-money is used for and how it’s used? Well, you can find out all you need to know over on the European Commission’s ‘E-money’ page.
For more check out the FT.com
LISTEN: You Must Be Jokin’ podcast – listen to the latest episode now!
