FB to launch Facebook Credits for Indian users

Facebook will introduce a new payment system Facebook Credits in India from July 1.

New Delhi: Social networking site Facebook
will next month introduce a payment system `Facebook Credits`
for Indian users who could spend the virtual currency across
various games or applications they use on the popular website.

A virtual currency, Facebook Credits is already popular
among gaming enthusiasts in many other countries, including
the US.

"Facebook will introduce a new payment system Facebook
Credits in India from July 1," a company spokesperson told
PTI.

Facebook Credits enables fast and easy transactions
across games on the social networking site and would benefit
about 2.5 crore Facebook subscribers in the country.

The users would be able to enter their payment
information once and can buy, earn and spend safely across
various games or applications they use on Facebook.

"Starting July 1, we will require all social game
developers on the Facebook canvas platform to process payments
through Facebook Credits," Facebook Platform Marketing Manager
Deb Liu wrote on the company`s official blog in January.

This will also help various brands, which use the medium
of Facebook to retail them goods through their social pages.

"Facebook Credits is currently used in more than 350
applications from 150 developers, representing more than 70
per cent of virtual goods transactions volume on Facebook,"
Liu had said.

Facebook Credits would also offer incentives such as
early access to product features, premium promotion on
Facebook, premium targeting for ads, and access to new
co-promotion opportunities.

Many developers such as Zynga, Playfish, CrowdStar,
Digital Chocolate, PopCap and Arkadium have already adopted
Facebook Credits for in-game virtual goods.

PTI

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