Facebook Credits launched in India on July 1, 2011

Facebook has launched its virtual payment system, Facebook Credits, in India from July 1, 2011. The virtual currency payment system is currently being used for transaction across games on Facebook in some countries; and can be purchased (Facebook credits) via credit cards, PayPal and mobile phones. In short, once implemented, Facebook credits becomes the only currency used inside Facebook.

This is what Deborah Liu, Platform Marketing Manager for the company, said on the company’s official blog regarding Facebook Credits,

“Facebook Credits is a virtual currency that enables fast and easy transactions across games on Facebook. With Facebook Credits, people enter their payment information once and can buy, earn and spend safely across lots of different games.”

To get an estimation of the extent of proliferation of Facebook Credits on Facebook at present, the blog post reveals that currently Facebook Credits are being used in more than 350 applications by about 150 developers. It represents more than 70 per cent of virtual goods transactions volume on the website. Thus 7 out of every 10 virtual goods are being transacted via Facebook credits. --------

Share This:

Facebook

Twitter

Google Plus

Pinterest

Linkedin