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Report: Facebook to Offer Mobile Payment Services

Facebook Inc is preparing to join the mobile-payments race with remittances and electronic-money services on the social network, the Financial Times reported on Sunday, citing several people involved in the process.The company is close to obtaining approval from the Central Bank of Ireland to start a service that would allow users to store money on Facebook and use it to pay and exchange with others, the people told the FT. (http://link.reuters.com/dag58v)The Irish central bank declined to comment.Facebook was not immediately available for comment.The company has also had partnership talks with at least three London start-ups — TransferWise, Moni Technologies and Azimo — that offer online and mobile international money transfer services, three people involved in the discussions told FT.Telecom groups, retailers and banks are all trying to secure a pie of global mobile payments, which is predicted to grow rapidly in the next few years.Vodafone brought its mobile money transfer service M...

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