Thursday, September 23, 2010

Facebook Promotes Its Credits as Path to Dollars - NYTimes.com

The Facebook monetary system

For now, Facebook says it simply wants Credits to help foster the growth of virtual goods transactions. But Mark Zuckerberg, the chief executive, said recently that the company may choose to do “a lot more” with Credits in the future. Over time, the company plans to turn Credits into a system for micropayments that could be open to any application on Facebook, be it a game or perhaps a media company, people with direct knowledge of Facebook’s plans said. They spoke anonymously because the plans have not been announced publicly.

In addition to games, which account for the vast majority of money spent on Facebook, more than a million other applications run on the site. In the future, many of those may choose to charge for access to certain features or to things like music, videos or news articles.

Facebook Promotes Its Credits as Path to Dollars - NYTimes.com

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