Facebook held a live webinar called “Migrating to Facebook Credits for Developers” earlier today. In it, the virtual currency’s product marketing manager Deb Liu announced that Credits has been adopted by more than 550 games and apps from over 275 developers, and that Credits accounts for over 85% of the transactions on the Platform.
Liu also mentioned that Facebook would soon “substantially increase the number of countries that can receive payouts via PayPal,” and noted that more incentives would soon be available to developers who use Credits as their premium in-game currency (although she didn’t provide further details). Facebook also published a step-by-step guide to adopting Credits today, including an engineering flow diagram illustrating how a Credits transaction is processed.
These new stats, payout countries, incentives, and documentation should serve to draw more developers to Credits, especially ones based in South America or Asia, as Hong Kong is the only nation of those two continents where payouts are supported.
On July 1st, 2011, all Facebook games must use Credits as their exclusive payment method, and those who use Credits as their exclusive premium in-game currency will have access to incentives including Frictionless Payments, Buy With Friends, and the getBalance API. The new incentives Liu discussed would join this suite.
Facebook cited that over 350 games and 150 developers were using Credits by January, but those numbers have now grown by 200 and 125 respectively. These stats provide social proof that developers are switching to and sticking with Credits, which should help onboard those developers still delaying the inevitable.
Last month, Facebook announced support for several additional currencies and payment methods, including many in Asia. However, Facebook currently only allows payouts in North America, Europe, and Hong Kong, likely discouraging developers from Asia who can’t afford to set up a branch in one of nations that are supported. Liu said that additional payout countries, which could include Singapore and Taiwan since they have many app developers, will be added in late May or early June.
Facebook seems to understand that problems with the July Credits transition could seriously harm its relationship with the developer community. The migration to 30% taxed currency is already a touchy subject, and as such, it’s doing everything it can to preempt issues through blog posts, forum responses, and even live question-and-answer periods.