Facebook is testing an internal beta version of a full-service online banking application with Australia’s Commonwealth Bank, Fortune reports. A public launch is expected for later this year, according to the report.
Fortune, citing an Australia Commonwealth spokesperson, described the app as follows:
[The app] will allow Facebook users who are bank customers to make payments to third parties as well as Facebook friends through the social media channel, according to the bank. Commonwealth will secure transactions with its own authentication system — similar to how payments are secured on its online and mobile banking site, a spokesperson says.
Combined with Facebook’s recent move to begin allowing people to make app purchases on the website using real currency, rather than Facebook credits, it would seem that money is on Facebook’s mind.
