Now that Facebook Credits have been nixed as the official currency of Facebook games, the company took some time Tuesday during the Game Developers Conference in San Francisco to explain how the new system of local currency makes in-game purchases easier for all parties. Now, game developers have full control over what they charge users in different countries, and users can see rounded price points instead of always-changing conversions.
Facebook announced its transition from Facebook Credits to local currencies for games and game developers last June, and all game developers are slated to be migrated to local currencies during the third quarter of this year, so the social network provided some details in advance in a post on its developer blog.
Last week, Facebook entered the gift card market with the Facebook Card — a new addition to Facebook Gifts. Unlike other gift card options offered by Gifts, this is a plastic card that can be used at Target, Sephora, Jamba Juice, and Olive Garden. Noah Mallin, vice president of social media for brand agency Digitas, thinks that the Facebook Card could be a very powerful way that brands learn more about users’ spending habits, and it could also revolutionize mobile ads.
Facebook is facing an actual lawsuit over virtual currency, with Austin, Texas-based Kickflip, which does business as Gambit, claiming that the social network violated antitrust laws with its entry into the sector and resulting terms.
Five of the top 10 global game developers on Facebook are from Europe, the Middle East, or Asia, compared with just one in 2011, Julien Codorniou, the social network’s head of games partnerships for EMEA, said during Facebook’s developer day at GDC Europe last month.
Facebook Thursday will announce a feature for advertisers called action tracking, which will enable them to move beyond likes and track conversions and downstream activity, according to social ad-management software provider Buddy Media, which offered details on the new capabilities in a post on its blog.
Facebook continues to aid application developers with its phasing out of Facebook Credits in favor of local currency, following up its introduction of revised payment terms last week with Thursday’s rollout of an application-programming interface that allows developers to convert Facebook Credits into the user’s preferred currency.
The Zeus Trojan is on the prowl again, hungry for credit-card information and other personal data, and Facebook is being used as the bait.
Following Facebook’s announcements Tuesday that it was scrapping Facebook Credits in favor of local currency, as well as launching subscription billing for applications, the social network updated its payments terms Wednesday on both the user and developer sides.