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elgato
Joined: 24 Feb 2005
Posts: 17235
Location: Texas
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| Posted: Fri May 15, 2009 9:47 am Post subject: Facebook Begins Testing Payments System |
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Facebook will reportedly begin testing a payments system in the coming weeks. This will start with a few developers, exploring ways for users to use Facebook credits with third-party apps on Facebook.
The potential for such a system is huge. If Facebook has its way, this thing could eventually be used around the web and compete with things like PayPal and Google Checkout. Nicholas Carlson with Business Insider reports:
A source familiar with the company's long-term strategy tells us a payments system is part of a dream scenario in which Facebook not only begins making money off applications within Facebook.com, but also becomes the preferred, trusted way for its users to pay for things across the Internet. In the short term, Facebook executives believe a robust platform full of apps that either use Facebook's payments system, its upcoming ad network, or both could provide rapid revenue growth. Facebook investors hope for an IPO in the next 24 months.
Clearly, there is also a lot of potential for Facebook to make some major revenue from a payments system. Facebook has often been criticized for not being monetized like it
more.. link to news article |
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diesel_parts
Joined: 23 Jul 2006
Posts: 723
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| Posted: Fri May 15, 2009 10:50 am Post subject: |
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| Another hole in JD's dream of paypal doubling in size in the next year. LOL. |
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xppman
Joined: 15 Feb 2005
Posts: 1145
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| Posted: Fri May 15, 2009 10:59 am Post subject: |
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| lol |
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tessa
Joined: 12 Aug 2006
Posts: 145
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| Posted: Sat May 16, 2009 8:54 pm Post subject: Re: Facebook Begins Testing Payments System |
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Why wouldn't they the co founder of paypal sits on facebooks board of directors...
Peter Thiel |
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elgato
Joined: 24 Feb 2005
Posts: 17235
Location: Texas
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| Posted: Sun May 17, 2009 9:13 pm Post subject: Re: Facebook Begins Testing Payments System |
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| Perhaps Petter is planning on a little double-dipping on the ole online payment services front. |
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elgato
Joined: 24 Feb 2005
Posts: 17235
Location: Texas
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| Posted: Wed May 27, 2009 6:40 pm Post subject: Re: Facebook Begins Testing Payments System |
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update:
"Facebook is Changing Payments Terms"
Facebook announced today that it has posted a draft of its Payments Terms to better explain how financial transactions will take place. The terms were created as a means to govern purchases made through the site.
Facebook is using the voting the commenting process it used when it recently updated the Facebook Principles and Statement of Rights and Responsibilities documents. This time, users have three days to voice their comments (another example of where conversation adds value).
The new Payments Terms page will replace the existing Terms of Sale page, as well as the payments-related sections of the Online Advertising Terms and Conditions. "We drafted new terms in order to simplify all of our payments-related terms by bringing them together in one place and to give us the flexibility to try new features," says Joe Sullivan on the Facebook Blog.
People have two ways of making payments on Facebook. These are through the Facebook Gift Shop, where they can purchase credits to buy gifts, and the purchase of advertising of course, through the online Facebook Ads system.
On a sidenote, Facebook recently announced that the majority of gifts will now require only 10 credits to purchase, rather than 100. However, this only affects the way credits are calculated. Users still have to pay the same amount to buy gifts as before.
more.. link to news article |
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xppman
Joined: 15 Feb 2005
Posts: 1145
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| Posted: Wed May 27, 2009 7:15 pm Post subject: |
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Who uses fleecebook to sell online?
Seriously? |
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