Not Coming Soon: Facebook Holding Off on Plans for Platform Payment System? (Updated)

It was one year ago last week that Facebook announced the beta test of its Facebook Platform payment system that would allow applications to start accepting payments from users directly inside their Facebook apps. However, one year later, Facebook has not developed the system, and some signs from the company point to the project being on hold altogether while it focuses on other priorities.

Originally billed as a way for developers to conduct e-commerce transactions without the need for third party payment platforms like Paypal, a Facebook payment solution would make purchasing both virtual and physical goods and services inside Facebook apps much more integrated with the Facebook experience.

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