Facebook secures payments services licence

Michael Russian

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The Sunday Business Post reports that Facebook has received a licence from the Central Bank to operate a financial payments service, two years after applying for authorisation.

A subsidiary of the social media giant can now act as a payments provider and electronic money issuer, as well as provide credit transfers and remittance services across the EU, as a result of the regulatory approval. The company has been in the payments space for some time in the US. AIB mortgage compensation plan to beat PTSB AIB customers affected by interest overcharging after being wrongly denied cheap ECB tracker mortgage rates will receive better terms than rival Permanent TSB gave borrowers under its redress scheme last year, according to the Sunday Times.

In addition to repaying overcharged interest, AIB will pay compensation equivalent to 15 per cent of refunds and a further amount taking account of the money customers had to…

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