Comments on: Facebook Announces Partnership with PayPal for Ad and Credits Payments

By: nicc

nicc — Wed, 20 Oct 2010 17:18:27 +0000

i have a paypal account and i love it but i did an ad on facebook and choose to paypal funding and it took forever on facebook i dont know whats wrong with facebook but they need to set their game up because theirs alot they can do to make their site better (im still here waiting for this paypal thing)

By: PayPal Completes Online Payments Domination: Accepts Credit Cards by @ScepticGeek

Sat, 26 Jun 2010 03:06:47 +0000

[...] the same time, Facebook – who partnered with PayPal for ads and credits – has started accepting PayPal for ad [...]

By: You Can Now Use PayPal To Pay For Facebook Ads

You Can Now Use PayPal To Pay For Facebook Ads — Fri, 25 Jun 2010 19:04:45 +0000

[...] for Facebook advertisements. The announcement has been expected ever since Facebook and PayPal agreed to work together on allowing the use of PayPal to fund various Facebook [...]

By: Facebook Credits: Virtual Currency in Social Gaming| BeAloud Digital Media News

Tue, 16 Mar 2010 11:10:00 +0000

[...] US dollars and then exchanged for Facebook Credits (1 USD =10 credits.) Recently Facebook stroke a deal with PayPal to allow simpler transactions for users willing to purchase virtual currency on Facebook (the [...]

By: Facebook Adds Paypal Support | SocialEcon - Monetizing Social Games and Applications

Sat, 20 Feb 2010 02:33:11 +0000

[...] Facebook ( http://www.insidefacebook.com/2010/02/18/paypal-is-facebooks-latest-payment-service-partner/ ) has the quote from the announcement from Facebook’s Dan Levy stating the following: “We want [...]

By: Dave McClure

Dave McClure — Fri, 19 Feb 2010 05:30:07 +0000

>>Paypal is simply a VISA/MC/bank account intermediary

if you really believe that, you don’t understand the online payments ecosystem. PayPal is a native payment option for people with PayPal balances (perhaps 2-10% of online users in the US, maybe more). at the very least, it’s a simple payment option for many people that makes transacting easier, for the most part (as many larger e-commerce players now realize & have implemented).

in the long-run, it’s likely that Facebook will develop its own alternatives, but in the short-term it’s foolish for FB to not offer PayPal as a payment option. what’s curious is why it’s taken them 2-3 years to figure that out.

in any case, i’d expect more payment options (both direct & indirect) from FB in the future.

Q: “why do you rob banks?”
A: “because that’s where the money is.”

By: DailyBloger

DailyBloger — Fri, 19 Feb 2010 04:42:55 +0000

I don’t understand why they need PayPal when they are quite successful with there current Payment method.

By: Jon Matonis

Jon Matonis — Fri, 19 Feb 2010 00:09:41 +0000

I don’t really understand this latest move by Facebook, but then again I wasn’t present at the meetings, so it could be that I am missing part of a ‘grander’ strategy. On the one hand, it paves a road for Facebook to demand Facebook Credits and ‘push out’ the virtual currency platform companies. But, on the other hand, it opens the door for a universal virtual currency that has the ability to move both in-and-out of the Facebook gaming environment.

Paypal is simply a VISA/MC/bank account intermediary and Facebook is certainly free to develop/extend those cc relationships, especially with Peter Thiel on the board of Facebook. This is a layer on a layer on another layer to purchase Facebook Credits. Facebook needs revenue and their most promising path to revenue had seemed to be via exploiting the payment platform space! Maybe this move will now give juice to the freely-convertible universal currency notion now that Facebook is out of the way.

–Jon Matonis
http://themonetaryfuture.blogspot.com