For the last approximate 12 months, Facebook has tried to increase its monetary credit system -- and why not?
For a while, the only items that credit cards could purchase consisted of only virtual gifts...what were they good for anyway? Now the options are endless...but not really. Users can purchase real gifts, songs, and download different applications that charge fees. As if we that were too inconvenient, Facebook has paired up with PayPal so we can buy Facebook credits more willingly and often -- at least, that's Facebook's hope.
This partnership also incorporates Facebook's other payments so that PayPal can work in conjunction with Facebook Ads. Simple? Yes. Beneficial for both companies? Absolutely.
PayPal has striven to grow in the micropayment field with Facebook for a while. And it makes sense, since it doesn't look like Facebook is going to stop growing for a while, nor does it have any intention to. PayPal's 81 million users can easily purchase ads and credits that will, no doubt, be ingrained more and more as the site continues to expand. The other payment options that currently exist include individual credit cards and mobile phones using "Zong."
This joint partnership could not have come at a better time, especially since Facebook Connect has become increasingly pervasive on the net. Facebook plans to extend payment options by letting people "Pay with Facebook." Now, PayPal can take a piece of that pie.
The only time I've ever considered payment options on Facebook was when I was running for Undergraduate Student Government Vice President. However, no credit card was necessary because a promotion allowed $100-worth voucher for free advertisements. I guess this "inconvenience" did not necessarily apply to me in the past. Perhaps I'll find it useful in the near future.
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