toggle

AAPL Stock: 122.37 ( -0.62 )

Printed from http://www.macnn.com

Facebook moves away from Credits, implements subscriptions

updated 05:03 pm EDT, Wed June 20, 2012

Monthly fees being tested by Zynga before July rollout

Facebook is giving up on its Credits system and moving to local currencies, the social network has announced. The change is an effort to make payments simpler for end users. The company is moreover adding the ability for Facebook apps to start charging for subscriptions, beginning later in the summer. The move is seen as a way for Facebook increase its revenues outside of ads.

Credits were introduced in 2009 as a single virtual currency for all apps on the network. As most games on Facebook now have their own virtual currencies, the need for a platform-wide currency has dwindled. Payments to games will now be made in currencies local to a user, and any existing credits on customer accounts will be reverted.

Subscription support will begin in July. Marketed to developers as a way of establishing a recurring revenue stream and offering "premium experiences," subscriptions are currently being tested by Kixeye and Zynga ahead of the full rollout. The potential extra revenue is sure to make Facebook seem more favorable to investors following a rocky IPO, since the network will take a 30 percent cut from transactions.




by MacNN Staff

toggle

Comments

  1. UmarOMC

    Joined: Dec 1969

    0

    Hmm...

    facebook.com is blocked through my router... something going on there?

    God I like freedom.

    :P

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented