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Facebook to launch money transfers over Messenger

2015-03-18 09:20:00| Telecompaper Headlines

(Telecompaper) Facebook users in the US will soon be able to send money to their contacts via Messenger. Users will need to start a message with a friend, tap the $ icon, enter the enter, and then press pay. First time users (senders and receivers) will need to add a Visa or MasterCard debit card issued by a US bank to their account. They will then create a PIN number for the next transactions. On iOS devices, users will also be able to enable Touch ID. All customers will be able to add more layers of authentification, at any time, if they wish. Facebook said it currently processes more than 1 million transactions daily on the site and that it will also handle all payments processed on Messenger. The company said layers of software and hardware protection have been installed and that a team of anti-fraud specialists will also monitor for suspicious purchase activity to help keep accounts safe. The new payments feature will roll out in the US over the coming months across Android, iOS, and desktop.

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Facebook and Reliance launch Internet.org app in India

2015-02-10 01:00:00| Total Telecom industry news

Around three dozen basic services will be offered free to Reliance customers in six Indian states.

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Facebook to launch NFL video clips with Verizon ads

2014-12-24 16:09:00| Telecompaper Headlines

(Telecompaper) Facebook has entered a partnership with the National Football League (NFL), according to The Wall Street Journal.

Tags: video ads clips launch

Facebook to launch e-money services - report

2014-04-14 09:43:00| Telecompaper Headlines

(Telecompaper) Facebook wants to provide financial services in the form of remittances and electronic money, the Financial Times reported, saying the company was only weeks away from obtaining regulatory approval in Ireland. Several sources said that the service will allow users to store money on Facebook and use it to pay and exchange money with others. The authorisation from Ireland's central bank to become an "e-money" institution will allow Facebook to issue units of stored monetary value that represent a claim against the company. This e-money would be valid throughout Europe via passporting. Facebook has also discussed potential partnerships with TransferWise, Moni Technologies and Azimo, all London start-ups that provide international money transfer services online and via smartphones. In the case of Azimo, Facebook offered to pay USD 10 million to recruit one of its co-founders as a director of business development, sources said. A Facebook spokesperson declined to comment.

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