A $ign of Things to Come? Facebook Ads and Credits Can Now be Purchased in 14 New Currencies

Although Facebook has tens of thousands of advertisers using its self-serve Facebook Ads system and millions of users buying Facebook Credits to spend on Facebook Gifts and (recently) Platform applications, it has always required all advertisers and Credits buyers around the world to pay in US dollars. As a result, customers abroad have had to deal with exchange rates, and advertisers have had to manage budgeting campaigns in a different currency. Today, however, Facebook has rolled out the ability to pay for Facebook Ads and Facebook Credits in 14 new currencies. Now, when you want to create an ad using Facebook's online advertising system, buy a Facebook gift, or purchase a premium item in a Platform application participating in the payments alpha test like Group Card, you have the added option of paying in the following currencies: Australian Dollars (AUD) British Pound (GBP) Canadian Dollars (CAD) Chilean Peso (CLP) Colombian Peso (COP) Euro (EUR) Danish Krone (DKK) Hong Kong Dollar (HKD) Japanese Yen (JPY) Norwegian Krone (NOK) Swedish Krona (SEK) Swiss Fanc (CHF) Turkish Lira (TRY) Venezuelan Bolivar (VEF) For example, here's what buying Facebook Credits in Chilean Pesos looks like. (The exchange rate is 54 Chilean Pesos to the Credit for those keeping track at home.) What This Means for Advertisers Growing and scaling its advertising solutions internationally is a key focus for Facebook, and the addition of 14 newly accepted currencies is a step in that direction, making the ad creation process as simple as possible for advertisers in many more locations around the world. Facebook will not be charging additional fees for the currency transactions involved, so advertisers in many new countries should be able to plan their Facebook campaigns more seamlessly. What This Means for Developers Facebook is currently testing a Facebook credits payments program for Facebook Platform developers in a few applications in an effort to create an additional low-friction payment option. So far, many developers monetizing their applications through payments have expressed interest in testing the system out, though only a few are actually live now. Given that over 70% of Facebook users live outside the US, the addition of new currency support should make Credits an increasingly viable option for users in those countries. However, whether or not Facebook will be able to drive significant currency purchases in those countries remains to be seen - currently, the only way to actually purchase Facebook Credits is still with a credit card. Mobile payment companies like Zong and Boku have been aggressively working with Facebook application developers to help them access users in many international markets which are otherwise more challenging to monetize, so it will be interesting to see if Facebook's new currency support has a significant impact. Conclusion Facebook has not yet broken out advertising volume or Credit sales by country. However, we expect Facebook to continue to expand its international payments infrastructure in order to be able to support an increasingly global base of advertisers and direct customers. With over 70% of users currently outside the US and growing, Facebook is giving advertisers and developers access to markets that would otherwise be much more challenging to reach. Jessica Lee contributed to this story. F48DAEB5-B814-972E-1FF4-476898DB4226 1.02.28 F48DAEB5-B814-972E-1FF4-476898DB4226 1.02.28 F48DAEB5-B814-972E-1FF4-476898DB4226 1.02.28 F48DAEB5-B814-972E-1FF4-476898DB4226 1.02.28 F48DAEB5-B814-972E-1FF4-476898DB4226 1.02.28

Social Pro Daily

A $ign of Things to Come? Facebook Ads and Credits Can Now be Purchased in 14 New Currencies

About

Subscriptions

Events

Publications

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!