Facebook wants to Zuck up your cash into its mobile payment service

Facebook is planning to launch a mobile payments service that would allow its European users to store and exchange funds via the social network, sources claim. According to a report in the Financial Times, Facebook has filed an application with the central bank of Ireland to become an "e-money" institution under EU regulations …

[southpacificpom]

You want my cash?

Well you can just Zuck off.

[Charles Manning]

What can possibly go wrong?

He knows your name.

He knows who your friends are.

He knows your buying habits.

He knows how much money you have.

With all this info, and absolutely no scruples, you're going to receive targeted advertising campaigns designed specifically to get the money out of your account.

service [ser-vis]: verb

1. to supply with aid, information, or other incidental services

2.. (of a male animal) to mate with (a female animal)

Given the BItches statement, clearly the second definition is what Zudkerlad is after.

[h4rm0ny]

We need this, but not from Facebook.

We (society) definitely need a convenient way of making micropayments. Advertising is a plague upon this Earth, but it results from people not paying for things they want. Note, that I very deliberately didn't say "not wanting to pay for things they want". Plenty of people are willing to pay small amounts, and small amounts add up.

Advertisers don't pay a great deal of money, but if regular visitors were willing to make small contributions that would change the model enormously. Would you pay a £1-2 a year for access to the Reg? I certainly would. No-one does of course because we don't have a pervasive system of micro-payments which makes doing such a thing effortless.

Imagine a world where advertising didn't control 90% of the websites you visit? I do, and I like it.

[Bronek Kozicki]

Re: We need this, but not from Facebook.

I already pay (to website owner) to remove ads from some of the websites I like most. Would happily do the same for El Reg (if asked).

[Baron Ebaneezer Wanktrollop III]

And you'd really trust your cash to a website that's been in existence for over 10 years but still can't manage to eradicate the continuous onslaught of spammy ' OMG you wouldn't believe what happens to this girl next' videos which (apparently) lead you to extremely dodgy locations.

Ram it.

If this post gets 1,000 likes and shares I'll get my nob out.

[Anonymous Coward]

ok, 1 down 999 to go

After that, its up to you.

[h4rm0ny]

Re: ok, 1 down 999 to go

I upvoted him on the basis that I agreed with his post and it's on the Internet so whether his "knob" is in or out, I should be unaware of it.

Unless "Baron Ebeneezer Wanktrollop III" turns out to be a colleague sitting next to me, which would prove interesting.

[Anonymous Coward]

Just when you thought it was safe...

... oh, wait, I am - coz I don't use that steaming pile of spam anyway.

[Tom 13]

I suspect there's a good reason Google Wallet doesn't have many adopters

It works even less well than Pay-Pal. When it came out I signed up for it and tried to use it to make three different online purchases. Never got any of them and there was no dispute system to resolve issues with it. I'm not going back.

Zuck's won't make it either. He might get it to work, but I trust him with my data less than I do Google or EBay. It was fine for free Zynga games, but that was about it. And with Zynga stepping all over their own plans I don't even play those any more.