Facebook ties up with PayPal for payments on its website
19 Feb 2010
Facebook yesterday announced a tie up with online payment gateway major PayPal to facilitate payments on its website for Facebook advertisers and users.
Dan Levy, director of payment operations, Facebook, said about the alliance, "We want to give the people who use Facebook, as well as advertisers and developers, a fast and trusted way to pay across our service."
Advertisers can now book ads on the social networking website by simply accessing the online advertising tool and making online payments.
Levy also said, "As our business has grown, offering local methods of payment has become increasingly important for advertisers who want to buy Facebook Ads. Teaming with PayPal, a global leader in online payments, makes this possible."
For the 400 million Facebook users, the affiliation will enable them to buy Facebook credits, a new feature currently being tested, through which they can purchase virtual goods on games hosted by Facebook and also items from Facebook Gift Shop.
Though the strategic partnership is a global one, but with PayPal payment operationd currently having been suspened over regulatory concerns, the Indian community on Facebook will have to wait till PayPal sorts out its issues with the RBI.(See: Personal transactions to saty shut for a few months: PayPal)
