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.
The test of a subscription payment model for applications with developers Zynga, Kixeye, and Playdom that Facebook launched in June is over, and the social network has extended the capability to all developers.
Facebook announced that it is scrapping the emails that it sends to developers containing information about payments, replacing it with a payments reporting application-programming interface that has already gone live.
Following its second-quarter earnings call last Thursday, Facebook filed its 10-Q quarterly document with the Securities and Exchange Commission Tuesday, addressing, among other topics, increased mobile usage, revenue from game developer Zynga, and the status of various lawsuits.