Sunday, July 12, 2009

Facebook's Payment Guy

is ... Gareth Davies, who says stuff like ""We get a lot of requests to provide a platform-based monetization model. We want to help developers succeed as best as we can and also help users have a great experience. We have a gift shop on that enables our users to buy gifts using a virtual currency called Facebook Credits. And that's done very, very well for us. We're thrilled with that business, and it's growing... People love to buy [virtual] gifts and give them to their friends. It's a very fun, engaging activity. And so, having seen the success there and hearing the requests from developers that this would be of interest to them, we have begun testing the user Facebook Credits by offering them to developers, so that users can use Facebook Credits in an application to buy things. We're very early on in the test there, and so far, the results look good. We have a handful of apps live today." He has without a doubt the payment industry's biggest window of opportunity with the Facebook user base and developer network to do truly game changing and innovative thing sin the world of payment. But so far you ca only buy Facebook credits with Credit Card. Will be interest to see whether he and his Facebook Payments Team come up with beyond the same old same old. Stay tuned...

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