Facebook confirmed on 25 January it is planning to force game developers to only accept the FC currency as a payment method on the website. All social game developers (such as the immensely popular Farmville) will have to comply by 1 July.
Although developers can still use their own ‘in-game’ currencies, it does mean that consumers will be required to process the transactions with FC. Facebook works with more than 350 applications and 150 developers.
“The new requirement is a natural progression in the growth of Facebook's brand”, said Mark Herpel, Editor of DGC Magazine. “Requiring a ‘one-size-fits-all’ currency reduces the barriers of entry and should greatly benefit developers. I do envision a ‘pay with [FC]’ option in the near future where this virtual currency can be used in third-party websites to buy physical goods.”
Published previously in E-Finance &PL&P, February 2011. Copyrights apply.