Facebook launches payment method in Europe – social networking payments battle begins
Facebook has obtained an e-payments license from the Central Bank of Ireland, signalling that the ability to pay people through the Messenger app (already available in the US) could soon be coming to Europe.
The Central Bank of Ireland’s approval of the payments license was authorised to Facebook Payments International Limited (FBPIL) in October 2016 for “e-money issuance” and “payment services.” TechCrunch reports, cited by businessinsider.com. As a member of the European Union, passporting rights mean that the Irish license would apply throughout the other 27 EU member states.
Currently, the payment service only works in the US. It allows customers to send money to friends via the Messenger app, a feature which it has recently been promoting. It has been reported that the social network will soon be adding payments to businesses, as well as friends, via the app.