The Pros And Cons Of Facebook Credits, For Merchants

Merchants have complained about the cost of Facebook Credits, but commerce vendor Milyoni says that there are twice as many pros as cons to the digital currency.

The vendor illustrated this in a fairly comprehensive white paper for merchants.

The benefits of Facebook Credits for merchants are:

• Access to a marketplace of nearly one billion users;
• Simplified approach to purchasing virtual and digital goods;
• Consolidation of virtual currencies across multiple providers;
• Secure payment and billing environment;
• Available in 47 currencies;
• Ability to purchase and gift Facebook Credits in many ways (credit card, PayPal, mobile, retail stores);
• Growing base of merchants that reward customer loyalty and buying with credits;
• Effective mechanism to convert fans into paying customers of premium or exclusive services; and
• Facebook Credit distribution can be a low cost promotional effort to increase brand awareness or customer conversions.