Payments on Facebook
December 20, 2007 at 1:06 pm by Ehab BandarThe Financial Times reports that Facebook is planning to build “a payments system that would allow application developers to conduct transactions through the Facebook site.” The article cites a Facebook Developer Forum post asking for beta testers “to become part of a beta group of developers to discuss payments on Facebook.” Below is an excerpt from the full story:
When he launched the Facebook platform strategy in May, Mark Zuckerberg, Facebook’s founder, hinted that some kind of payment system could be in the works. Such a system would expand the revenue streams available to application writers by allowing them to charge users for premium services, or even sell items through Facebook outright, rather than relying on advertising to make money. Facebook could also benefit if it worked out a way to pocket a piece of each transaction run over its payments system.
Facebook faces an interesting choice in deciding how to proceed. It can go it alone, partner with a company with more experience in online payments (Ebay’s PayPal springs to mind), or offer a mix of payment options. Working with an experienced partner could soothe the nerves of users concerned about privacy in the wake of Facebook’s poor handling of its new Beacon advertising service.
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