Facebook updates payments terms to reflect addition of subscriptions, Credits phase out and more

Facebook has updated its payment terms for both users and developers following Tuesday’s announcement that it would support monthly subscription billing for apps and games on its platform and phase out Credits in favor of a user’s local currency.

Note that Facebook’s transition from Credits to local currency is not an indication that the social network is getting out of the payments business. In fact, it is expanding it to be more similar to Apple’s iTunes App Store model, rather than emphasizing virtual currency. This should give Facebook more flexibility as it looks to monetize apps beyond games.

Overall, the new policies are more comprehensive and better organized, which is important as the number of users and developers who use Facebook’s payments platform expands over the next year to include more non-game transactions.

Continue reading about the changes to user and developer terms on our sister site, Inside Facebook.

Mediabistro Job Fair

Mediabistro Event

Mediabistro Job Fair

Join us on January 27 at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media companies, network with other professionals and industry leaders, and land your next job! Register now!

 

Leave a Reply

One Response to “Facebook updates payments terms to reflect addition of subscriptions, Credits phase out and more”

  1. Facebook updates payments terms to reflect addition of … | Social Paygate Blog says:

    [...] Comment [...]

Get the latest news in your inbox
interested in advertising with inside social games?

Social Media Jobs
of the Day

Social Media Manager

Social Media Manager
Santa Monica, CA

Social Media Manager

Honest Tea, Inc.
Bethesda, MD

Product Manager - Community Platform

Maker Media
San Francisco, CA

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Mediabistro A division of Prometheus Global Media home | site map | advertising/sponsorships | careers | contact us | help courses | browse jobs | freelancers | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us