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.
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.
Students spend enough time on Facebook, so they might as well be able to pay their bills while they’re on the social network. That’s the thinking behind SmartClick, a payment interface that incorporates Facebook plugins.
PayPal and Facebook just got a little cozier with the launch of Send Money, an app on the social network that allows users to send money to their friends without paying transaction fees.
The dollar? Meh. The euro? That’s so 1995. Facebook Credits is taking aim at becoming the new universal currency. And it’s starting with the web.
Facebook has incorporated a subsidiary to handle payments.
Putting down payment info online is the biggest turn-off for new social gamers… so Facebook has begun testing out a “pay later” option to get them into buying virtual goods.
Facebook is adopting a new micro-payment system from PayPal for sales of its Credits virtual currency.
Want to get an idea about the future of the payments industry? Taking a look at Facebook’s push for their Credits platform and the recent boom in in-app payment providers will help shed some light. As I highlighted on Friday, reduction of friction is the center of “innovation” right now on the internet. For payments, that means easier ways to make transactions. While new offerings, like SMS payment providers, provide solutions to expand the payments market, the most significant innovation in payments is instant, one-click, “buy now” buttons.