Facebook Nabs New Payments Director from Google

prashant-fuloria-facebookThe Facebook Platform payments and monetization ecosystem continues to grow rapidly this year, and recently, Facebook has been getting more involved. A few weeks ago, Facebook started testing integration of its own virtual currency with Platform applications, and last week Facebook enabled payment support in 14 new currencies.

Now, we’ve learned that Facebook recently hired Prashant Fuloria, formerly a Director of Product Management at Google where he worked on Google Checkout amongst various other projects during his six year stint, as the new Director of Product Management responsible for Facebook payments. Highly regarded by colleagues, Fuloria left Google and started at Facebook last month.

With Fuloria’s hiring, the march of former Googlers two exits up the 101 to Facebook continues. At one point, nearly 10% of Facebook employees came from Google. Just a couple of weeks ago, Greg Badros, who headed up the AdSense engineering team for several years at Google, joined Facebook as a Director of Engineering.

Fuloria has his work cut out for him as he oversees the development, testing, and wider launch of Facebook payments services over the next several months. While Facebook only accepts credit card payments today, it is likely to expand its payments tests in the future, as the company seeks to monetize users across geographies and demographic profiles. Managing the integration of payments methods and systems into the Facebook experience is an increasingly important challenge for the company as it seeks to create a new, substantial direct-to-consumer revenue stream in a market that is known for its high operational costs, major fraud challenges, and international complexity.

Several companies have already launched major efforts to help developers accept payments from Facebook users – including mobile payment providers Zong and Boku, integrated credit card payment enabler Social Gold, and a variety of others – not to mention Paypal, Amazon, and Google Checkout. Even large developers like Slide are now building their own payment platforms. The Facebook Platform payments ecosystem has gotten crowded in the two years since the Platform launched – a good sign of its overall health.

Facebook opted for Platform growth over monetization in 2008, but it appears to be increasingly focused on building out its payment platform in 2009. We’ll let you know as Facebook’s monetization efforts continue to develop – though we somehow doubt they’ll include Google Checkout any time soon.

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12 Responses to “Facebook Nabs New Payments Director from Google”

  1. Dave McClure says:

    Good to see more activity by both Facebook and others in this area. Making transactional usage easier & more common will help lift all boats.

  2. SearchCap: The Day In Search, June 29, 2009 says:

    [...] Facebook Nabs New Payments Director from Google, Inside Facebook [...]

  3. Finance Geek » Facebook Is Going After PayPal, Google Checkout says:

    [...] The guy who used to run Google Checkout, Prashant Fuloria, left Google (GOOG) after six years last month and now works for Facebook as its Director of Product Management responsible for the”Pay With Facebook” product, reports Inside Facebook. [...]

  4. Facebook Meets Google Checkout | Helping You Make Money Online says:

    [...] testing, and wider launch of Facebook payments services over the next several months," says Inside Facebook’s Justin Smith. "While Facebook only accepts credit card payments today, it is likely to expand its payments [...]

  5. Facebook Meets Google Checkout - Google Live Search says:

    [...] testing, and wider launch of Facebook payments services over the next several months,” says Inside Facebook’s Justin Smith. “While Facebook only accepts credit card payments today, it is likely to expand its payments [...]

  6. Prashant Fuloria Leaves Google For Facebook says:

    [...] [via InsideFacebook] [...]

  7. Facebook adding payment platform? | Media News: Internet Marketing & Online Advertisng says:

    [...] announcement two: Facebook has hired an ex-Google Checkout director to develop these payment systems. Given Facebook’s immense and growing popularity, its [...]

  8. Facebook adding payment platform? | Search Marketing says:

    [...] announcement two: Facebook has hired an ex-Google Checkout director to develop these payment systems. Given Facebook’s immense and growing popularity, its [...]

  9. Facebook adding payment platform? | Seo Services, LLC - Indiana based search engine optimization consultant says:

    [...] announcement two: Facebook has hired an ex-Google Checkout director to develop these payment systems. Given Facebook’s immense and growing popularity, its [...]

  10. Facebook adding payment platform? | SEO Hardcore says:

    [...] announcement two: Facebook has hired an ex-Google Checkout director to develop these payment systems. Given Facebook’s immense and growing popularity, its [...]

  11. Must Read: Die Highlights der letzten Woche | GameBizz.de - Onlinegames & Business says:

    [...] Inside Facebook [...]

  12. claudegirard says:

    face book nous déconnect et ont leur demande pourquoi il ne réponde pas c est tu normal il pourait nous répondre merci s.v.p de claude girard

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