Report: Facebook Planning E-Money Service in Ireland

Facebook is moving closer to becoming more of a checkbook, at least according to one report.

The Financial Times reports that Facebook is "weeks away" from gaining regulatory approval in Ireland for a service in which users can store money on the social network and transfer funds to one another.

The electronic money service would work throughout Europe, according to the report. Facebook is also looking to partner with several startups for international money transfers online.

Reps for Facebook did not immediately respond to our request for comment Read more...