Wednesday, June 20, 2012

Facebook to phase out ‘credits’ in favor of local currencies

Facebook announced today that they are going to be swapping out their ‘credits’ system for in-country currencies. The credits system first debuted in 2008 when the site started charging users to send ‘gifts’ to other people. The system then extended to developers, and was an easy way for devs to charge for in-app purchases.

By supporting pricing in local currency, we hope to simplify the purchase experience, give you more flexibility, and make it easier to reach a global audience of Facebook users who want a way to pay for your apps and games in their local currency. With local pricing, you will be able to set more granular and consistent prices for non-US users and price the same item differently on a market-by-market basis” Facebook commented on their official blog post.

The move will also allow developers to introduce in-app subscriptions, thus monetizing their apps further and making purchases even more seamless. But while Facebook has come under scrutiny recently for its fluctuating share prices, this move would show that the company wants developers to earn the most out of their apps by simplifying purchases and introducing the subscription model.

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