2.Facebook previous balance:-
The article has confirmed that it is now being transformed into a full localized standard-currency payments platform but People can still redeem gift cards and store unused balances in their account.
The company has hoped to simplify the purchase experience,gives users more flexibility,and make it easier to reach a global audience who want a way to pay for depelopers apps and games in their local currency.
4.Reason behind local currency:-
Those are great reasons.Pricing a game on Facebook at 10 credits costs an American about a buck,which might take the average person a few minutes to earn.But the same game costs someone in India almost 300 rupees which takes the average person a couple of hours to earn.Easily it can say local currency pricing can reduce that discrepancy.
As frequent VentureBeat contributor Rocky Agrawal pointed out,Apple’s Passbook is scary for PayPal,which has only 100 million customer accounts.But Facebook could be threatening for both PayPal and Apple.In his editorial,Vogel said,’Facebook is PayPal on steroids,with the strength of a billion members.’
It is not clear what the thinking is going over the mind of Mark Zuckerberg which knows where fact.As my own notion says that the payments space is going to get much more interesting before it gets boring.And that Facebook’s monetization options just grew significantly towards their own goals and targets.