Payment Providers Report Strong Q1 Revenues on Social Games, Virtual Currency

While Facebook has focused its Platform efforts over the last 18 months on growth over monetization, several payment providers have moved quickly to fill the gap by providing payment processing services to Facebook Platform application developers. Based on what we’re hearing, those payment companies experienced very strong growth in Q109.

Although most of the companies we spoke with did not want to publicly disclose specific revenue figures, Inside Facebook’s survey of leading payment providers on the Facebook Platform shows that payment providers overall experienced about 35% growth in both overall transaction volume and dollar volume on Facebook for the first quarter. Some reported growth as high as 300% for the quarter, largely due to new distribution partnerships.

>> Read More at Inside Facebook