In June 2011, Facebook released Credits, a new payment system that was akin to the former virtual currency found on Xbox 360. However, on Thursday it was announced that the social media platform would be retiring its current system in favor of localized currency. Facebook Credits could be purchased at $0.10 each and then used for on-site games, special offers, and virtual presents. Facebook took 30% of each credit (much like how Apple and Google earn income from iOS and Android apps). The idea was novel since Facebook Credits could be used across platforms for different games. However, due to...
Read the full article: Facebook Switches Payments From Credits To Real Currency
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