Facebook Announces Online-Banking Test


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Facebook announced that it is testing an online-banking service with Australia’s Commonwealth Bank expected to debut this year. The new system lets people make payments to other Facebook users, and will become a test of how well Facebook can handle the deep-science realities of financial privacy and security.

Aside from being everyone’s BFF, the real advantage of Facebook will be how well they are able to tie all those companies on Facebook to the real live people on Facebook. Purchase opportunities could become real, virtual, and everything in between.

Source: http://www.forbes.com/sites/patrickhanlon/2012/07/11/facebook-announces-online-banking-test/

No way I'm trusting that info to Facebook...


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If they are going more the payment processing route, then I can see it and it would be somewhat effective. Anything more than that and I'll wait for the news stories and just chuckle at those who trusted Facebook with that kind of information.


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Oh gods no.... who would actually be stupid enough to trust Facebook with their banking information? I suppose if you're a company and it is an investment (not to mention you can set up a small account and if you lose something you don't lose everything) that's different. But individuals... I doubt anyone would go for that. Hell, I wouldn't even give them my damn Paypal account!

I guess they are hoping for easier ways to make the virtual world revolve around Facebook. This is I admit a lot of the reason I have shifted away from using it so much, as more people only seem to get sucked in. I don't like how they are shooting to be the next Google or something but move beyond and suck in the entire world population. I suppose that isn't a very realistic goal considering China would never jump on board. XD