Facebook Could Use Money Transfers To Extend WhatsApp And Non-Ad Revenue

TechCrunch

The FT is reporting that Facebook is looking at e-money services — including the ability for people to make peer-to-peer money transfers using money that is stored on Facebook itself — and has applied for an e-money license in Ireland as part of that. Facebook has declined to comment on the report, but we have confirmed with sources some of the details of what is going on.

Facebook made the rounds in London in December, and it spoke to several consumer-facing payments companies, including the three mentioned in the FT’s report: TransferWise, Moni Technologies and Azimo. But from the sounds of it there are others, as well.

“It was mainly about market discovery,” said Mike Laven, CEO of Currency Cloud, the London-based startup that powers payments at the back end for all three of these companies, as well as several of their competitors.

While Laven was clear…

View original post 912 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s