Thursday, October 27, 2011

Facebook Looking To Transform “Credits” Into A Web Currency

Recently, the Facebook Developer Blog revealed the testing of Credits on various websites with the daring objective to implement a web wide payment system, sometimes in the future.
“We have begun working with a few developers to test the ability to offer Facebook Credits on websites, with the goal of helping them offer a more unified app experience to users beyond apps on Facebook. One early example is Collapse! Blast on”, announced the Developer Blog.
First, Facebook hinted in this direction at the beginning of July, when developers were advised to use Facebook Credits. After the testing time, it is up to the users. If a sufficient number of fans are satisfied with Facebook’s virtual money and make purchases with Credits, the number one social network could expand this option to additional websites.
During the testing, users who log on to Gamehouse and play Collapse Blast or UNO Boost, find the option of Facebook Credits available. For now, Facebook’s teams responsible for the project as well as analysts, are waiting for the developers’ feedback. At the moment, Facebook asks for one third of the revenue when Credits are used on its own network.
Analysts believe that if the expansion strategy is to be successful, this fee has to be adjusted in order to give Facebook a chance against other payment systems. As the Facebook’s evolution so far seem to imply, a bold move is not so farfetched. Soon we might see a widespread of Facebook Credits through cyberspace.

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