Facebook currency takes to the web

Facebook currency takes to the web

By Paul Dantanus

October 25th 2011 at 12:45PM

External gaming sites begin trial of Facebook Credits

Facebook has announced a limited test of its virtual currency on external websites, with Flash-based arcades such as Gamehouse.com becoming the first to accept the web credits as payment.
 
The social networking site currently takes a 30 per cent cut from all transactions that use Facebook credits, which are primarily used for the buying and selling of virtual goods. Facebook users can now log in automatically through Gamehouse.com and spend credits on games such as Collapse Blast and UNO Boost.
 
Facebook will be looking to expand its operation and encourage online game developers to implement its business model. Digital media outlets may be included in future, with possible integration across all online and mobile platforms.
 
The credits method has replaced the existing PayPal and credit card options. It remains to be seen if Facebook will demand monetary exclusivity for its service.
 
The early trial will determine the potential success of a branded currency to attract international web developers.
 
Earlier this month Facebook launched a mobile app that allows users to play games such as FarmVille Express on their tablet devices.

Developers who are interested in testing Facebook Credits for websites can apply here