Written on 25 Oct 2011 by Facebook is now testing its virtual currency Facebook Credits outside its own site. Facebook for Websites is being tested on some sites as GameHouse.com. Social Gaming first but this could be extended to VOD, e-commerce and votes at reality TV shows.
With virtual money all over the web, the social network could compete with online payment systems like Paypal in a few months or years.
Judge for yourself: Facebook Credits brought $ 39 million in revenue in 2009 (year of launch), 140 million in 2010, and eMarketer has established a forecast of $ 470 million for 2011.
Note that Facebook takes a 30% commission on each transaction (it’s 2.5% + $ 0.25 per transaction with Paypal). A Facebook credit equals to 10 cents ($ 0.10) minus the commission of the social network = 7 cents.
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