The payment platform behind the Facebook Card, plastic gift cards that hold all electronic gift cards users have received through the social network, introduced in January, received a different type of payment, as Marqeta Thursday announced the closing of $14 million in series-B funding.
Payvment has been one of Facebook’s most prominent e-commerce solutions, led by CEO Christian Taylor. However, Taylor told TechCrunch Tuesday that he’s stepping down from his post, but will remain active within the company as a member of its board of directors.
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.
Facebook announced Tuesday that the company is doing away with Facebook Credits and transitioning to local currency. The social network also announced that it is accepting subscription billing for apps.
Facebook wants to make mobile payments easier, and said it is working with AT&T, Deutsche Telekom, Orange, Telefónica, T-Mobile USA, Verizon, Vodafone, KDDI, and Softbank Mobile on ways to streamline mobile transactions.