Facebook To Launch Payment Service

Image by Vicipaedianus x  | Wikimedia
Image by Vicipaedianus x | Wikimedia

Social networking giant Facebook is currently waiting for the Irish central bank to authorize their monetary transfer services that will run in Europe soon. The company’s payment services include money storage and transfers between peers. Facebook affirmed that they were trying such a feature since last year, a tactic they say will help app partners when it comes to commerce experience.

Features for Aspirations

The service is aimed at increasing the amount of Facebook’s direct sales through their advertising. This will remove the necessity for filling out credit card details address forms. Experts and critics both believe that this move will help strengthen the company’s efforts to penetrate emerging markets.

For a Cause

Facebook’s latest efforts are also linked to one of the missions of the Internet.org. This mission aims to bring cheap online access to people by reducing certain costs and network deficiencies and offering free or affordable Internet subscription on mobile.