Facebook targets financial services

Posted online April 15, 2014 | 6:12 am

Facebook is readying itself to provide financial services in the form of remittances and electronic money, the Financial Times reports.

The social network is reportedly weeks away from obtaining regulatory approval in Ireland for a service that would allow its users to store money on Facebook, as well as use it pay and exchange money with others.

“Facebook wants to become a utility in the developing world, and remittances are a gateway drug to financial inclusion,” said a person familiar with the company’s strategy.

Read more from the Financial Times.[[In-content Ad]]

New executive director hired at Moxie Cinema

Comments

No comments on this story |

Please log in to add your comment

Editors' Pick

From the Ground Up: Willard Central Elementary School safe room and additions

A safe room and classroom addition at Willard Central Elementary School will be used by the music, arts and athletic programs for a district that had 4,536 students last year, according to Missouri Department of Elementary and Secondary Education figures, but school officials say enrollment is projected to grow.

Most Read