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Tuesday, February 28, 2012

Facebook announces mobile payment initiative

Facebook said it could team up with mobile operators on payments, in an offer that would give them back part of the revenue and influence they have lost in recent years to Apple and Google.

Speaking for the first time at Mobile World Congress, the industry's biggest gathering, Facebook said operators could help it make money from its hundreds of millions of mobile users buying games or music on the social network.

Mobile operators have been increasingly sidelined by internet companies, which often appeal directly to consumers, hog network capacity with bandwidth-hungry services like YouTube, and compete with the telcos' own products.

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