Facebook is driving their in-house web currency forward and from July 1, 2011 will make it mandatory for developers to accept this payment medium for in-app transactions:
"Starting July 1st, we will require all social game developers on the Facebook canvas platform to process payments through Facebook Credits.
All developers keep 70% of the revenue from virtual goods transactions using Facebook Credits.
Although we are not requiring developers to use Facebook Credits as their sole in-game currency, we are offering special incentives to those who do."
In addition, Facebook will be offering incentives for apps which use Facebook Credits exclusively:
"We are now introducing special incentives for developers who choose this level of integration. These developers will receive early access to product features and premium promotion on Facebook, including featured placement on the Games Dashboard, premium targeting for ads, and access to new co-promotion opportunities."
Facebook is also apparently planning to embed the transactions with Facebook Credits deep within the Facebook platform, thus enabling the full potential of the social graph:
"Buy With Friends will allow users to share that they’ve made an in-app purchase to their stream. Friends can then make the same purchase using Credits, sometimes at a discount, in-line from the news feed. Developers will be able to set the discount level and which items trigger the sharing feature.
Over the last few months, it has been testing these systems with the aim of making spending virtual currency a social, seamless part of the Facebook experience."
In addition, the Facebook Credits API is now freely available for all developers.
In support of these efforts, Facebook is building a new team called “Payment Operations” and is hiring specialists for these roles.
- Ifeelgoods: Driving Sales with Facebook Credits
- Extras: Magento Mobile, Facebook Credits, Zappos API
- Web Currencies: What Facebook Is Planning With Their Credits
- Web Currencies: Facebook Imposes 30% Tax on Credits
Originally posted in German by Marcel Weiss, adapted for excitingcommerce.com by Jason Soo.