Facebook beta testing Platform payment system

facepal.pngAfter much speculation, Facebook is about to start closed beta testing its payment system for application developers.

This is big news for developers seeking to monetize their apps through transactions. Transaction-based applications that use virtual currencies or kick users out to Paypal could soon start accepting payments from users directly in their apps.

A Platform payment system could also be a significant revenue generator for Facebook. While Facebook is not making money directly from application use (developers keep 100% of ad sales), developers would be happy to pay a commission for the service.

Developers who are interested in participating in the beta test can go to the Developer Forums and email the Facebook Platform team. You will be required to sign an NDA to participate.

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26 Responses to “Facebook beta testing Platform payment system”

  1. Good News for Developers | Lonely CEO Media - Facebook Application Development and Consulting says:

    [...] Justin  Smith first cited the forum post. [...]

  2. Facebook Beta Tests Payment System - The Unofficial Facebook Blog says:

    [...] my wall that they had bought the shirt. Social commerce has extremely powerful potential. Thanks to Justin Smith for pointing this out! Posted in News Digg this article Save to del.icio.us [...]

  3. Facebook sucht zusätzliche Erlösquelle im E-Commerce » Beitrag » zweinull.cc says:

    [...] Laut Inside Facebook können sich Entwickler von Applikationen derzeit für die Beta-Phase eines internen Facebook-Bezahlsystems anmelden. Die Intention dahinter erscheint logisch: Zumindest ein kleiner Teil der Anbieter hinter den mittlerweile über 11.000 verfügbaren Applikationen wird Interesse haben, reale oder virtuelle Produkte/Gegenstände über Applikationen zu vertreiben. Derzeit funktioniert dies nur mit Hilfe externer Lösungen wie Paypal, weshalb eventuelle E-Commerce-Umsätze der Applikationen komplett an Facebook vorbeigehen. Gleichzeitig beinhalten der Weg über eine externe Zahlungsabwicklung zusätzliche Gebühren sowie Aufwand für den App-Entwickler. Auch die Anreize für Facebook-Mitglieder, Güter innerhalb der Plattform zu erstehen, sind gering, weil diese nicht komfortabel mit wenigen Klicks in Facebook bestellt werden können. [...]

  4. Jimmy Smith says:

    Who is Facebook partnering with on this? PayPal / Google Checkout / Amazon? Anyone?

  5. Jesse Farmer says:

    They’re not partnering with anyone, AFAIK. They already have the transaction technology. To scale you need fraud-prevention.

    One thing to keep in mind is that Peter Thiel, one of the co-founders of PayPal, is a primary backer and board-member of Facebook via his Founders Fund.

  6. sumit gupta says:

    I was wondering if an independent company providing micropayment support across social networks will be better than facebook specific solution. Like paypal, this facility should be site agnostic.

  7. 26econ.com » Happy New Year says:

    [...] is beta-testing a payments platform. January 2, 2008 – 9:42 pm, by aaron. Permalink. Comments RSS. [...]

  8. Inside Facebook » Facebook Platform rolling out more security features with CAPTCHA says:

    [...] Facebook is working on a secure payments solution for application developers wanting to accept payments but unable to setup a payments infrastructure [...]

  9. Inside Facebook » Facebook NOT Launching App Payment System at f8 says:

    [...] started taking developer applications to participate in a payments beta program last December. When ready, the Platform payments system [...]

  10. Inside Facebook » Facebook Selling Virtual Gifts at $30-40 Million/Year Rate says:

    [...] player in digital goods by providing virtual goods sales infrastructure for developers whenever its application payment platform is [...]

  11. Inside Facebook » Notes from Mark Zuckerberg at Future of Web Apps Expo in London says:

    [...] referred to as “the rumoured payment system.” (It’s more than a rumour, given the solicitation for developers to sign up for a beta programme last year, but obviously there’s nothing to be announced [...]

  12. The Zakum » Blog Archive » Facebook takes Nexon Idea says:

    [...] be faltering a bit as the company usurps applications and doesn’t deliver on things like a payment platform, on which others can generate revenue and Facebook takes a [...]

  13. Not Coming Soon: Facebook Indefinitely Scraps Plans for Platform Payment System says:

    [...] was one year ago last week that Facebook announced the beta test of its Facebook Platform payment system that would allow applications to start accepting payments from users directly inside their Facebook [...]

  14. AboutFaceDigital says:

    [...] year ago last week Facebook announced the beta test of its Facebook Platform payment system that would allow applications to start accepting payments from users directly inside their Facebook [...]

  15. Facebook ed i micropagamenti sui social network | Giovanni Cappellotto says:

    [...] piu’  di un anno che si rincorrono le voci sulla possibile costruzione di un sistema di pagamenti interno a Facebook, con lo scopo non solo di permettere la vendita di prodotti e servizi [...]

  16. BECAUSE I BET YOU THE SALVATION ARMY ACCEPTS COINS « HONESTLY. says:

    [...] they still working on that, as promised? No Comments so far Leave a comment RSS feed for comments on this post. TrackBack URI [...]

  17. Facebook Considering Virtual Currency System? says:

    [...] given that the company has been “looking at” doing a Platform payment system since late 2007 that has yet to [...]

  18. Facebook Platform Payment Providers Report Strong Growth in Q1 says:

    [...] having announced a beta program for its own in-house Facebook Platform payments system in December 2007, Facebook has remained mum [...]

  19. JPN NXT » Buy Facebook Credits in Yen says:

    [...] hinting at virtual transaction in December 2007, and almost confirming it last March, during the GameBeat [...]

  20. IF: Facebook Talking to Developers About New Plans for Its Virtual Currency says:

    [...] first broached the idea of creating its own virtual currency for third-party developers back in December of 2007. The company has slowly rolled the “Credits” product out. First it [...]

  21. IFB: Facebook is Building a New Payment Operations Team says:

    [...] Facebook has been talking about building a payments service for years, the project has only slowly rolled [...]

  22. Cash Cow Spotted. Facebook Signs Up For a Quick Win With PayPal says:

    [...] announcement was not expected as Facebook had its own payment system in beta for years (see here and here) which will still exist for virtual goods.  One simple fact can explain this decision: [...]

  23. Facebook ed i micropagamenti sui social network says:

    [...] piu’  di un anno che si rincorrono le voci sulla possibile costruzione di un sistema di pagamenti interno a Facebook, con lo scopo non solo di permettere la vendita di prodotti e servizi [...]

  24. Facebook ed i micropagamenti sui social network says:

    [...] piu’ di un anno che si rincorrono le voci sulla possibile costruzione di un sistema di pagamenti interno a Facebook, con lo scopo non solo di permettere la vendita di prodotti e servizi [...]

  25. Facebook Beta Tests Payment System - AllFacebook says:

    [...] my wall that they had bought the shirt. Social commerce has extremely powerful potential. Thanks to Justin Smith for pointing this out! Comments Share Related Facebook Users Are The Stars In [...]

  26. Facebook Beta Tests Payment System - AllFacebook says:

    [...] my wall that they had bought the shirt. Social commerce has extremely powerful potential. Thanks to Justin Smith for pointing this out! Related Stories Facebook Reportedly Sets IPO As Early As May 16Facebook [...]

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