Facebook set to launch `e-wallet service` in Europe

Washington: Facebook is gearing up to launch its e-wallet service that lets users store money on their social account to spend across the Web. Facebook is reportedly waiting to get the regulatory approval in Ireland for the e-wallet service. Ireland is only weeks away from approving Facebook to handle electronic money or "e- money," that can be used throughout Europe. This battle to dominate the e-wallet market will include giants like Google, and PayPal, and it will definitely be an interesting and tough competition.