Facebook Turns Facebank, Soon Accepting Payments In Local Currencies

Facebook is changing its virtual "Credits" feature to allow users to make payments in local currencies around the world, very possibly a step towards developing Facebook as a payments platform on its own. When the service rolls out in about a month, Facebook users can enter credit card details and purchase gaming credits, for example, with real money instead of using virtual Facebook Credits. Facebook has also enabled monthly subscriptions, dropping its restriction to individual payments as it had until this announcement. Facebook requires all apps to switch to local currencies by the end of the year.

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