Facebook Testing Payment Systems

Posted May 14, 2009

The developers that are making money on applications placed on Facebook are generally selling virtual goods and games on the social network.  Facebook itself hasn’t created a payment platform yet.  However Facebook is currently testing a payment system platform over the next several weeks where real money can be exchanged.

A payment system made available through the social network could be huge.  Similar to how Apple sells music and applications for a small cut of each transaction, Facebook could do something similar.  Facebook currently makes most of its money from advertising and hasn’t done much to monetize applications on their own website.

Last month Facebook tried an experiment called Credits.  Credits was a virtual currency where users could give virtual points to each other for things such as favorable shared links.  As we receive more news on the payment systems rumor, we’ll continue to update Pulse2.com.

[via VentureBeat]