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Archive for the ‘Facebook Credits’ Category

Facebook’s New Initiative Promises to Make Cross-Platform Mobile Payments Real | Epicenter | Wired.com

At the Mobile World Congress on Monday, Facebook announced several new initiatives to battle fragmentation on the mobile web. The most intriguing may be a partnership with global wireless carriers — including AT&T, T-Mobile and Verizon in the U.S. — to streamline mobile purchases for webapps using Facebook’s login and payment platforms.

In this agreement, Facebook would be the intermediary between its web developer and wireless carrier partners. Customers purchasing goods through web apps equipped with Facebook’s Pay Dialog wouldn’t have to prepurchase Facebook credits; instead, they’d be billed by their wireless providers. Developers would deal with Facebook; Facebook would deal with the carriers — with its Payments and Credits platform translating between the two on the transaction.

As a Facebook spokesperson told Wired, right now this program is “more vision than reality”; it hasn’t been fully implemented, and many of the details still have to be worked out between all the partners in the coming months.

The vision, though, is spelled out in a blog post by Facebook Director of Developer Relations Doug Purdy: to “minimize the number of steps needed to complete a transaction in mobile web apps, which will make it easier for hundreds of millions of people worldwide to purchase apps on their device via operator billing.” Besides the Big Three carriers in the U.S., announced partners include Deutsche Telekom, Orange, Telefónica, Vodafone, KDDI, and Softbank Mobile.

The carrier payment partnerships also part of a broader effort by Facebook to make mobile app development easier (and make partnership with Facebook more appealing to developers):

Facebook is extending its social app discovery feature to include native Android apps in addition to iOS and web apps;

It’s joining the W3C’s Mobile Web Platform Core Community Group, “to help accelerate the improvement and standardization of mobile browsers”;

It’s immediately contributing a cross-platform mobile web test suite called Ringmark.

The payments initiative, however, is the most ambitious and has the most potential to turn into a serious revenue stream for Facebook and its partners.

via Facebook’s New Initiative Promises to Make Cross-Platform Mobile Payments Real | Epicenter | Wired.com.

via Facebook’s New Initiative Promises to Make Cross-Platform Mobile Payments Real | Epicenter | Wired.com.

Is Facebook a Central Bank, Too? – Forbes

Facebook’s 27-year-old founder, Mark Zuckerberg, isn’t usually mentioned in the same breath as Ben Bernanke, the� 58-year-old head of the Federal Reserve. But Facebook’s early adventures in the money-creating business are going well enough that the central-bank comparison gets tempting.

Everything started quietly, in 2009, with the experimental launch of Facebook Credits, billed as “the safe and easy way to buy things on Facebook.” Anyone who chipped in $5 from a Paypal account, Visa card or the like, could do the equivalent of changing money on an overseas trip. Voila! — $5 turned into 50 Facebook Credits.

Initially, the Credits-based economy was confined to the virtual world’s trifles. Credits could be spent to buy imaginary gold bars for aficionados of Mafia Wars, or bouquets of virtual flowers for birthday postings on friends’ Facebook accounts. This new form of digital money was cute but essentially useless for mainstream activities.

Lately Credits have become more intriguing. Warner Brothers this summer offered movie-goers a chance to watch “Harry Potter” and “The Dark Knight” for 30 Credits apiece. Miramax and Paramount countered with film-viewing offers, too. In a provocative post this week on Inside Facebook, guest blogger Peter Vogel argues that Credits in the next few years will become more of a true currency.

via Is Facebook a Central Bank, Too? – Forbes.

via Is Facebook a Central Bank, Too? – Forbes.

Facebook begins testing Facebook Credits for websites | ZDNet

Facebook has started working with a few developers to test the ability of using Facebook Credits on other websites. Palo Alto says the goal of Facebook Credits for websites is to let developers offer a more unified app experience beyond Facebook apps.Facebook is not yet sure if it will expand the test more broadly. If demand for the virtual currency is high and the user experience is deemed solid, the company could one day allow all websites to process payments for virtual goods using Facebook Credits.There is just one early example of the new system: GameHouse’s Collapse! Blast.

If you are a developer interested in Facebook Credits for websites, you can sign up at the Facebook Credits Developer Support Form by choosing the fifth category from the list.“At this time, we are focused on gathering early developer feedback,” a Facebook spokesperson said in a statement. “We will keep you posted as our tests continue.”In related news, Facebook has added new payment methods for Facebook Credits. Some of the recent additions include: Axeso5 Brazil, Join Card Taiwan, Hong Kong, Thailand, Malaysia OBT Malaysia, MEPS FPX Malaysia, MEPSCASH Malaysia, PayEasy Philippines, PaysBuy Thailand, SafetyPay Mexico, Costa Rica, Peru, Spain, Austria, Brazil, and WebCash Malaysia.

The social networking giant now supports over 80 payment methods in more than 50 countries around the world.Facebook Credits launched as an alpha in May 2009. The beta stage started in February 2010 and ended with a final version in January 2011. As of July 2011, all Facebook game developers are required to only process payments through Facebook Credits. It is not yet? a mandatory payment option for Facebook apps. Earlier this month, Facebook Credits became available as a payment option to mobile app developers.

Facebook takes a 30 percent cut of all revenue earned through Facebook Credits, leaving developers with the remaining 70 percent. It’s not clear how much revenue the company makes from the virtual currency, but it appears to be a growing percentage of its overall revenue. It could be massive if Facebook Credits for websites takes off.

via Facebook begins testing Facebook Credits for websites | ZDNet.

Are Facebook ID Cards In Our Future? | TechCrunch

Facebook has filed for a trademark on the usage of “Facebook” on business cards and, more curiously, “non-magnetically encoded” ID cards among other things. If granted the trademark would protect using the word Facebook in the specified formats, not any actual invention.

So what if Facebook just wants to stop people from making fake Facebook business cards? Well, it seems like this trademark would cover that and a whole lot more including “business card and identity card design services,” “printing services” and the ominous, “facilitating social and business networking through the provision of data for use on its own business and identity cards.”

It also looks like the trademark would cover QR code and NFC/RFID uses — which work through magnetic induction, NOT the aforementioned magnetic encoding — much like the Presence cards and photobooths that allowed you to upload and tag photos at F8 (see left).

It’s easy to envision some sort of master Facebook plan where Facebook would give users a cheap physical ID that could be read by smart readers and used for a variety of practical purposes. When asked, people familiar with the Facebook matter had no clue as to whether this was actually in the works. It’s also unclear how often companies like Facebook trademark something and then don’t actually take advantage of the trademark.

If Facebook were to develop some sort of physical ID system, it would be great for marketing and extremely practical; Imagine going to concerts or movies, buying tickets through Facebook and swiping through a key fob ID card.

So will Facebook play a larger role in how we manage in our offline identity in the future? Well the idea is not so far-fetched — After all, Facebook is already most dominant identity system on the Internet.

via Are Facebook ID Cards In Our Future? | TechCrunch.

Ifeelgoods Raises $6.5 Million To Ride The Facebook Credits Wave

In a couple of days, Facebook will require game developers to implement its Facebook Credits currency, as announced in January 2011 much to the dismay of some developers, although we should also note that several juggernauts, including Zynga, EA and RockYou, were already on board.This morning, Ifeelgoods is announcing that it raised $6.5m to strengthen its offering ahead of the July 1 Facebook Credits implementation deadline. Ifeelgoods offers a platform that allows retailers to provide Facebook Credits as marketing incentives in their online stores.Basically, Ifeelsgoods wants to make online retail promotions more effective and less expensive for sellers by having them hand out credits for virtual goods from popular social games in lieu of traditional promotions such as discounts, coupon codes or gifts.

via Ifeelgoods Raises $6.5 Million To Ride The Facebook Credits Wave.

Facebook Credits $600 million virtual economy – Apr. 28, 2011

NEW YORK CNNMoney — With more than 500 million active users, the population of Facebook exceeds that of many countries. And like any empire, Facebook has its own currency — one that got a big boost with this weeks launch of Facebook Deals.Facebooks new daily deals offering, available in five cities now with plans to expand to more, puts it into direct competition with Groupon and its army of imitators. Facebook members will get deal offers right in their news feed — and if one catches their eye, they can pay for it with a credit card, PayPal or Facebook Credits.013EmailPrintIts the first time Facebooks virtual currency can be used to buy real-world goods.”Those folks now have the money to buy a massage or a meal,” says Dave Martin, senior vice president of media at online marketing agency Ignited. “Beyond the simple idea of renting content, now youre actually getting durable goods.”

via Facebook Credits $600 million virtual economy – Apr. 28, 2011.

Paypal Is About To Get A Bruising From Facebook And Square

2011 is going to be a big year for payments, with more startups and mature companies getting funded in the space than almost ever before. It’s important to make the distinction between the headline chasers, the slow moving giants struggling for a piece of the pie and the companies that have a chance at real disruption. For my money Facebook and�Square are both very interesting companies to follow in this space.

In�my last post on TechCrunch I discussed Google and Apple and their efforts around payments, and explained why I don’t yet think they are serious players for the whole payments pie. The post ended with some ideas around what serious contenders could look like, and who are other potential large companies that could step into user-to-user payments.

via Paypal Is About To Get A Bruising From Facebook And Square.

Expanding Our Commitment to Facebook Credits – Facebook Developers

Expanding Our Commitment to Facebook Credits

By Deborah Liu – Thursday, February 25, 2010 at 2:30pm

Since our alpha test of Facebook Credits started in May 2009, we have worked hard to build a program that drives value for our developers. The long-term goal of Facebook Credits is to provide a currency that makes purchasing virtual items across applications fast and simple. To make it easy to buy Facebook Credits we support several different credit cards, fifteen currencies, mobile payments, and now, PayPal. For developers, this translates into more people ready to spend, each with a higher likelihood of completing purchases.

As we move into the beta phase of program, we want to provide an update about Facebook Credits. Over the past several months we have added several of the largest developers, including Crowdstar, Playdom, Playfish, RockYou, 6waves, and Zynga, into the Facebook Credits program. Many Facebook Credits integrations are in very early stages but start to illustrate how the product can be used. As part of the beta phase of this test, we plan to bring on more developers over the next several months.

Last week we announced that Facebook users can purchase Facebook Credits with PayPal, and can use those credits to purchase virtual goods with all applications that accept them as part of our beta test. This new option is live in a few applications to a small percentage of users, and will roll out more broadly over the coming weeks.

Today more than 500,000 applications exist on Facebook, and the virtual goods within those applications (particularly games) have become an increasingly valuable part of the user experience. By providing a single, cross-application currency, our goal is to making transactions simpler for users, leading to a higher conversion rate for developers. Specifically, our early testing has shown that users paying with Facebook Credits are significantly more likely to complete a purchase than the average Facebook user.

via Expanding Our Commitment to Facebook Credits – Facebook Developers.

Facebook enforces credits system | Marketplace From American Public Media

Facebook enforces credits system

By Steve Henn

Facebook is now requiring that app developers and users buy credits for virtual goods from its own system. It may be another sign of a booming virtual economy.

JEREMY HOBSON: From the real economy to the growing virtual one. Facebook will soon require all app developers to use Facebook’s own “credits” system, when selling virtual goods. So if you want to buy a new pig on Farmville, for instance, you pay with credits that you buy from Facebook. And Facebook takes a 30 percent cut.

STEVE HENN: OK, I’ll admit it. I can’t for the life of me understand why someone would spend real money to buy an imaginary pig on FarmVille.�I’d rather move anywhere. But social games are exploding without me. Two hundred million Facebook citizens play these games and lots are spending real money for digital pigs, houses, even imaginary fishing poles — a.k.a. virtual goods. And when millions start spending 50 cents every few days on imaginary products, it quickly adds up to some serious coin.

Justin Smith just published a report on this industry called “Inside Virtual Goods.”

JUSTIN SMITH: Our estimate for the size of the U.S. virtual goods market is that it will hit $2.1 billion in 2011.

Smith thinks more than half of all these purchases will take place on Facebook. So by forcing all game developers to use its own virtual currency, Facebook will collect $300 million in fees next year from U.S. consumers alone.

And Deb Lui, who runs this business for Facebook, says social games are just the beginning.

DEB LUI: We see a lot of different options for Facebook credits in the future. Right now social games is where a lot of this virtual economy is happening but we see new verticals emerging, and we hope new verticals will emerge to use credits in the future.

Think of how much that you already buy that’s digital. Your music, your media — all this could be delivered through Facebook and bought with its own corporate currency.

So will the Facebook credit rival the U.S. dollar one day for economic dominance? Randy Kroszner, a former fed governor, doesn’t think so.

via Facebook enforces credits system | Marketplace From American Public Media.

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