Will enable Indian users to spend virtual currency on the website.
Facebook just can’t stay away from the limelight these days. After successfully launching in several countries, the social networking giant is going to launch the payment system known as Facebook Credits for Indian users today. Using this system, users will be able to spend the virtual currency on the website on games and applications.
Deb Liu, Facebook’s Platform Marketing Manager had stated on the company’s official blog in January, “Starting July 1, we will require all social game developers on the Facebook canvas platform to process payments through Facebook Credits. Facebook Credits is currently used in more than 350 applications from 150 developers, representing more than 70% of virtual goods transactions volume on Facebook“.
Brands using Facebook as a medium to sell goods will find this very useful. Facebook Credit has already been adopted for in-game virtual transactions by major developers including Zynga, Playfish, CrowdStar, Digital Chocolate, PopCap, and Arkadium; hence there is no doubt that we will hear a lot about it in the near future.