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Does Facebook want to be the new Paypal?

Does Facebook want to be the new Paypal?
Baby I got your money, don't you worry, say hey

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.