Saturday, 26 April 2014

Soon You Can Transfer Money Instead Of Likes With Facebook Bank

Facebook Bank
Facebook plans to launch a payment service in the coming weeks, reports the Financial Times. About this e-money service to buy goods and goods of Facebook users, but can also exchange money between Facebook users. Besides Likes and Share Facebook users may soon be able to remit via the social network payment and money.

An application should already have been made . The fact that Facebook Carrying its business is always looking for new ways to make money, is clear. According to a recent report, the Facebook network now wants to make them a kind of financial institution. For this reason, an appropriate bank license in Ireland, the European home country of the Group was requested.

As the Financial Times reported in its fee-based online issue, should this license application now apparently is nearing approval. The one wants to hear about several internal sources that are familiar with the process. So Mark Zuckerberg will soon be as a bank director! The payment and money transfer service is designed to enable Facebook users to transfer money to the Facebook account and then use it within Facebook on.

Thus, goods could be paid within Facebook via the e-money service. But even that transfer money to other Facebook users would thus be possible. So Facebook would compete with conventional banks in some way. If the current report proves correct, Facebook is expected to issue electronic money to its members shortly in the European Union.

For the Facebook Users, it would be possible to exchange a certain amount in a kind of Facebook - currency and then to trade with other members of the network. Even currently Facebook plays as money managers in some situations, for example, it handles the payments when buying a game on its own platform.

The company earns a commission. According to the latest report Facebook wants to aim with his step towards full-fledged payment service into emerging markets. What Facebook is planning with its new banking license will not be clear until an official announcement from its side is made. Until then all will be purely speculation.

It will be interesting how the world's largest social network will position itself in this regard against services like PayPal and others. This new payment service could be particularly interesting if money is to be transferred to other countries. Within the EU the Bank Transfer is simplified by IBAN implementation, but the money transfer to other countries is not as easily doable.

This could be the way on Facebook for more comfort and may also ensure that the money goes faster than before at the receiver. The main target market see Facebook but mainly developing countries and emerging markets, the newspaper quoted a person who is familiar with Facebook's strategic plans. Facebook itself did not want to comment further on the details.

So far, Facebook has not introduced such a payment function officially and shortly a Facebook event is scheduled.

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