Facebook: Pay Our Way or Get Out

Beginning July 1st, Facebook will require App developers to deal in Facebook Credits for all transactions in virtual goods. What may upset the developers more than the use of Facebook’s official currency, is the 30% cut Facebook receives from every credit. They have you coming and going. Thanks to Lethal for the link.

Paying friends back online; buying goods from vendors; wiring money as soon as it's needed. That's PayPal, but there's no reason it can't become Facebook, and there's no reason Facebook, with its social features, wouldn't be a better at it.

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