Facebook's Irish e-money licence will help it bring peer-to-peer payments to EU

The Central Bank has authorised the social media giant as an e-money institution...

Facebook's Irish e-money licence will help it bring peer-to-peer payments to EU

CEO Mark Zuckerberg gives the keynote address during the Facebook F8 Developer Conference in San Francisco | Photo: PA Images

Facebook has taken a crucial step in rolling out Messenger's friend-to-friend payments function across Europe, as TechCrunch reports that it has secured an e-money licence from the Central Bank of Ireland.

The tech site was alerted to the fact that that the bank's online register now shows that Facebook Payments International Limited received the authorisation on October 24th.

It allows it to issue e-money and offer payment services that include credit transfers,transactions and money remittance.

Passporting means that the licence will be recognised in the other 27 EU member states, opening up a whole new market to Mark Zuckerberg's company.

It launched the Messenger function in the US back in March 2015.

It was widely reported that Facebook was preparing to launch an e-money transfer service in Europe through its Irish base as far back as April 2014, though Facebook has confirmed that there were no protracted delays in the Central Bank granting the licence and it had been conducted within its normal 90-day turnaround.