Facebook Announces New Currencies, Payment Options, Credit Spending Reports

Facebook has announced that it will soon add new international currencies, as well as more alternative payment methods for purchasing Facebook Credits. This will help developers monetize more effectively around the world, especially in Asia and Europe.

Facebook has also announced that developers will now receive daily, line-by-line summaries of all the Credits transactions on their apps. Developers will also be moved from a monthly to a bi-monthly payment schedule, with the payment delay reduced to 21 days.

International Currencies and Payment Options

In the next few weeks, Facebook will begin to support the Taiwan dollar, Malaysian ringgit, Thai baht, New Zealand dollar, and the Singaporean dollar for payments. Through its partnership with monetization service company Playspan, who was recently acquired by Visa, Facebook will also offer the following alternative payment methods, which include online payment networks, debit cards, pre-paid cards and more:

  • Europe: Ukash, Carte Bleue, cashU, iDEAL, EPS, Mister Cash, Giropay, Direct Debit
  • North & South America: Interac, DineroMail, Todito Cash
  • Asia: MyCard, Gash, OneCard, 郵便振替/払込, 銀行振込み

It will now be easier for users from these parts of the world to buy Facebook Credits. In some cases, users who previously had no way to spend money within social games will be able to become paying customers. It will now be more lucrative for developers to design or localize their games for these markets, and the expanded potential customer base will increase revenues.

These areas of the world will also become higher-return targets for social game advertising, which could drive up international bid prices.

Payment Schedules and Credit Spending Summaries

From now on, Facebook developers will receive real-world payments from Facebook for the Credits their users have spent on a bimonthly basis, opposed to the old monthly schedule. They’ll receive a payment for all activity between the 1st and 15th of the month, and another for activity between the 16th and end of the month.

Payments will be delivered by eCheck 21 days after the end of each bimonthly cycle. Previously, payments weren’t sent out until four to five weeks after the end of a monthly cycle. These payment schedule changes will give developers access to more of the money they’ve already earned, facilitating hires, hardware purchases, and faster iteration.

Developers will now receive two daily emails — one with a summary of all the Facebook Credits transactions on their apps from the past 24 hours with chargebacks and refunds highlighted, and a second email with line-by-line details of each transaction. Previously, summaries only included the overarching figures from the first email, such as total revenue and total refunds.

Developers will also receive two reports with the same formats alongside each bimonthly payment that aggregate two weeks of daily reports. The emails employ a unique ID system to securely pass developers data that only they can map back to a user’s identity.

This additional data will help developers spot spending trends, fraud, and whales who spend substantially more than other users. Facebook may eventually create an interface through which to interact with this data, similar to Insights for their apps.

Detailed Credits transaction summaries create an opportunity for someone to offer a Facebook Credits transaction history analytics service to developers that could help them deduce actionable data. Information about the performance of Credits helps developers improve their payment flows and game designs to maximize user spending, which in turn benefits Facebook.