Social networking site Facebook will launch a payment system, ‘Facebook Credits’, for Indian users, who can spend the virtual currency across various games or applications they use on the popular Web site from tomorrow.
A virtual currency, Facebook Credits is already popular among gaming enthusiasts in many other countries, including the US.
“Facebook will introduce a new payment system, Facebook Credits, in India from July 1,” an authorised spokesperson told PTI.
Facebook Credits enables fast and easy transactions across games on the social networking site and would benefit about 2.5 crore Facebook subscribers in the country.
The users would be able to enter their payment information once and can buy, earn and spend safely across various games or applications they use on Facebook.
“Starting July 1, we will require all social game developers on the Facebook canvas platform to process payments through Facebook Credits,” Facebook Platform Marketing Manager, Mr Deb Liu, wrote on the company’s official blog in January.
This will also help various brands, which use the medium of Facebook to retail them goods through their social pages.
“Facebook Credits is currently used in more than 350 applications from 150 developers, representing more than 70 per cent of virtual goods transactions volume on Facebook,” Mr Liu had said.