Does Facebook want to be the new Paypal?

Papal power

Facebook could be badgering you to send your friends money in the next few weeks as rumour has it that the social network is planning to launch a Paypal-like service.

The Financial Times reports that the company is "weeks" away from getting the go-ahead from the authorities in Ireland to allow it to hold money and send it between Facebookers.

The paper also says that three British firms that run money transfer apps have been in talks with the 'Book, suggesting it's going after mobile payments too.

Transfer window

All of this points to a possible European money transfer service, but whether it will extend to the US and beyond is another story.

Would you trust Facebook with your money? Let us know in the comments below.


News Editor (UK)

It's a perpetual challenge among the TechRadar staff to send Kate (Twitter, Google+) a link to something interesting on the internet that she hasn't already seen. As TechRadar's News Editor (UK), she's constantly on the hunt for top news and intriguing stories to feed your gadget lust. And having been immersed in the world of tech and tech rumours for more than six years, she can spot a photoshopped iPhone 8 image from 20 paces.