Popular social networking website Facebook has announced a strategic relationship with Paypal for advertisements and other developer systems which will enable users across the world to purchase virtual items that are used in gaming applications.
“We want to give the people who use Facebook, as well as advertisers and developers, a fast and trusted way to pay across our service,” said Dan Levy, director of payment operations, Facebook. “As our business has grown, offering local methods of payment has become increasingly important for advertisers who want to buy Facebook Ads. Teaming with PayPal, a global leader in online payments, makes this possible.”
“Put simply, PayPal’s business is payments. We make it easier for customers to send and receive money online in 24 currencies and 190 markets around the world,” said Osama Bedier, PayPal’s vice president of platform and emerging technology. “We’ve always been an important part of the developer ecosystem on Facebook, and we’re excited to expand our relationship directly with Facebook to help grow advertisers’ and developers’ businesses.”
This will eventually make way for Facebook Credits which will be used by many games and applications that current are operating on facebook.