London – Paul Hastings LLP, a leading global law firm, has advised Facebook on the launch of its Messenger payments service in the United Kingdom and France.
The person-to-person (P2P) service allows Facebook users to send money in a fast, secure and simple way, without needing to directly contact their bank or even leave a Messenger conversation.
The UK and France are the first jurisdictions outside of the U.S. where the P2P service has been made available since the service was launched in the U.S. in 2015.
The Paul Hastings team, led by partner Ben Regnard-Weinrabe with associates Nikki Johnstone and Harriet Russell in London and partner Aline Poncelet with associate Jens Waldner in Paris, advised Facebook on the application of payments/e-money and anti-money laundering regulation to the new P2P service, which is being offered by Facebook’s e-money institution in Ireland.
For more information, see Facebook’s announcement here.
For more information on Paul Hastings’ Fintech and Payments team, see here.
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