Facebook registers as e-money provider with Spanish central bank

Social media giant Facebook has received approval from the Bank of Spain to handle online money transfers in the country.

Facebook registers as e-money provider with Spanish central bank

The move will allow the company to launch P2P payments through its Messenger app.

Facebook Payments International, which secured a licence to provide e-money issuing and payment services in Europe from the Central Bank of Ireland recently, is added to the Spanish central bank’s register of e-money entities.

Since Ireland is a member of the European Union, the licence allows Facebook to offer its payment services throughout the other 27 EU member states.