Wednesday August 12, 2020

Facebook gets licence for financial payments service

The tech company applied for the licence more than two years ago

Ian Guider

Markets Editor

@ianguider
20th November, 2016
Over 29 million posts containing graphic violence, sex, hate speech, and terrorism were deleted by Facebook in the first three months of the year.

Facebook, the social media giant, has finally secured a licence from the Central Bank to operate a financial payments service.

The tech company applied for the licence more than two years ago and received approval in the last number of weeks, the Central Bank has confirmed.

A subsidiary of the company, Facebook Payments International, has been authorised to act as a payments provider and electronic money issuer, as well as provide credit transfers and remittance...

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