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.

Social Media 201

Mediabistro Course

Social Media 201

Starting October 13, Social Media 201 will provide you with hands-on instruction for gaining followers and engagement. Social media experts will teach you how to make social media marketing work for your bottom line and achieving your business goals. 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

Associate Vice President of Social Media

Beauty Public Relations Agency
New York, NY

Social Media Specialist

Lakewood Church
Houston, TX

Social Media Strategist

WHYY
Philadelphia, PA

Social Media Coordinator

PMC Studios
Los Angeles, CA

Social Media Manager

The Christian Broadcasting Network
Virginia Beach, VA

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