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Future of E-Commerce & Social Gaming with Facebook Credits

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Facebook recently launched the facebook credits across 13 countries, including India. The idea behind this launch is to have a unified system of payments for all the transactions happening on facebook’s platform whether it be for purchasing virtual goods to gift someone, virtual currency for playing social games or purchase of goods on e-commerce apps within the ecosystem.

Earlier this move was resented by the application developers because facebook will take a cut of 30% from the transaction amount but latter on they approved of it as otherwise facebook would ban them and at the same time it is beneficial for them to have a single mode of payment which will remove all sorts of hindrances or trouble. There’s also a possibility of this currency to evolve to such a level that people might start using it for payments offline also. Since facebook consists of social graph of more than 750 million users worldwide, it will become a great way for retailers to collect the data of the shoppers via facebook connect feature.

For more details please refer to the article published in pioneer recently with our CEO, Pradeep Chopra’s interview embedded below:

[slideshare id=8518563&doc=pioneer-facebook-credits-july3-2011-110705234547-phpapp02&type=d]

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