Facebook to make FB Credits Mandatory

Facebook confirmed Monday that it will be making it’s own virtual currency the mandatory payment method for virtual goods sold on its network. That means any company developing apps for use on Facebook will only be able to use Facebook Credits to conduct in-app purchases.

Starting in July, all Facebook app makers will be required to switch over to Facebook Credits, a move that has faced some resistance.

Back in May, Facebook faced off with social game developer Zynga over its in-game purchasing system, with Zynga, makers of the hugely popular Mafiawars and Farmville, threatening to walk. The standoff eventually ended with a 5-year agreement to promote Facebook Credits.

Facebook will take a 30% of all Facebook Credit transactions, although it’s likely that Zynga got a discount as part of its deal.

The switchover has been in beta for some time, with 150 developers using them in 350 applications. About 70% of all virtual goods transactions on Facebook currently use Credits, according to a company spokesperson.

Games are currently using Facebook Credits in two ways: to purchase the company’s own in-game currency, or as the currency itself. However the ultimate goal is to eliminate third party currencies altogether, and Facebook is offering developers incentives such as higher visibility on the Facebook apps page.