Facebook Co-Founder and CEO Mark Zuckerberg said during the company’s second-quarter earnings call Wednesday that when it comes to payments, the social network considers itself a partner to existing players, and not a competitor.
Gone are the times of toting around a massively bulky cell phone. Today, wherever you turn, everyone — even children — is on a sleek, elegant smartphone that has the capacity to do many of the things our computers can do. From texting, browsing the Web, reading emails, etc., people are increasingly using their phones for complicated task, and Facebook is set to maximize from this trend, attracting even more online retailers.
Move over, PayPal: Facebook confirmed a report by AllThingsD that it will test a new payments product that will allow Facebook credentials to be used by users completing transactions on mobile applications.
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.
Mobile payment platform Bango is about to process a £6.5 million ($10.2 million) transaction of its own after announcing the closure of an investment round Friday featuring new and existing investors.
Facebook completed the rollout of its developer alerts feature in late November, and now, the social network announced an updated settings menu to allow developers to manage how they receive those alerts.
Mobile payment platform Bango announced that its integration with Facebook, first revealed in February, is live, and the social network’s users in the U.S., the U.K., and Germany can now purchase items such as virtual gifts and game credits and be billed via their mobile carriers.