In 2011, it had come up with Facebook Credits
and Facebook Gifts in 2012, which didn't take off as expected.
its war room and other stepped-up patrolling efforts for booting 1.3 billion fake accounts over the past year and jettisoning hundreds of pages set up by foreign governments and other agents looking to create mischief.
An example of this is the introduction of paid services such as Facebook Credits
and Gifts in 2011, and looking at the financials it appears that such efforts were paying dividends, with their reliance on advertising revenues indeed declining (albeit still high at 85% in 2011).
In particular, their Third Amended Complaint alleges that the minor Plaintiffs used their parents' credit and debit cards, without permission, to purchase several hundred dollars' worth of Facebook Credits
." Courthouse News Service reports that "U.S.
Facebook now has Facebook Credits
, while Google's Checkout is widely used by many online vendors.
Facebook, which has more than 901 million users, makes 30 per cent of its revenue from Facebook credits
. Zynga Game Network, the firm behind Farmville and Words With Friends, is responsible for 12 per cent of Facebook's revenues.
"In regards to Facebook in particular," Steffen continues, "we've pioneered some of the integrated apps that deliver entertainment content through Facebook and enable consumers to purchase it using Facebook credits
India, June 21 -- Facebook has announced it will be phasing out its virtual payment system, Facebook Credits
. The social networking company is now allowing app and game developers to accept local currency.
Facebook gets most of its revenue from advertising, but has a Payments business centered around Facebook Credits
, a virtual currency used mainly to buy virtual goods within social games.
The targeted business includes play for real gaming assets and products, as well as social gaming with incorporation of real money purchase by end users of virtual currency, such as Facebook credits
, the buyer said.
Also, in just a few short months, we've experienced an amazing level of buy-in from large, national brands and from consumers, eager to earn Facebook Credits
. Facebook Credits
are proving to be the missing ingredient that bridges the gap between social media marketing and offline sales.'
An example of the complexity of this battle can be seen with the case of FaceBook Credits
, a virtual currency system from FaceBook whereby there is a 70/30 split for all sales made with the Credits (when, for example, users buy items or new levels for games).