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The news that Facebook has received a license from Ireland’s central bank in to operate as a financial payments service highlights the tech giants’ growing interest in entering the financial services sector, a process some smaller players in the United States have already begun, such as Square, Venmo (owned by PayPal) or Snapcash (the joint initiative between Snapchat and Square).

Professor of Innovation at IE Business School, blogger at and Senior Contributor at Forbes

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