Feeds

How will sir pay? Facebook credits, that'll do nicely

Internal only, for now

Combat fraud and increase customer satisfaction

Facebook has launched an internal payment system using virtual currency to get its members to pay for various virtual things on the site.

Facebook Credits are 10 for a dollar and can be exchanged for various virtual gifts which you can send to your virtual mates. Credit can be topped up using American Express, Mastercard and Visa.

It might seem like madness to get people to pay real money for virtual objects, but it is how many of the original social networks succeeded.

The Reg visited social networking site Cyworld in South Korea back in 2006, which was then bringing in 80 per cent of its revenue from charging for stuff like wallpaper and background music for its users "minihompy", or mini-homepage.

At the time the site was used by 92 per cent of South Koreans 20-somethings and had over 22bn page impressions a month. It brought in ten per cent of revenues, which were £115,000 a day, from mobile services.

Facebook has a Q&A here. ®

3 Big data security analytics techniques

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Inside the Hekaton: SQL Server 2014's database engine deconstructed
Nadella's database sqares the circle of cheap memory vs speed
Oh no, Joe: WinPhone users already griping over 8.1 mega-update
Hang on. Which bit of Developer Preview don't you understand?
Microsoft lobs pre-release Windows Phone 8.1 at devs who dare
App makers can load it before anyone else, but if they do they're stuck with it
Half of Twitter's 'active users' are SILENT STALKERS
Nearly 50% have NEVER tweeted a word
Internet-of-stuff startup dumps NoSQL for ... SQL?
NoSQL taste great at first but lacks proper nutrients, says startup cloud whiz
IRS boss on XP migration: 'Classic fix the airplane while you're flying it attempt'
Plus: Condoleezza Rice at Dropbox 'maybe she can find ... weapons of mass destruction'
Ditch the sync, paddle in the Streem: Upstart offers syncless sharing
Upload, delete and carry on sharing afterwards?
Microsoft TIER SMEAR changes app prices whether devs ask or not
Some go up, some go down, Redmond goes silent
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.