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  • Facebook Credits were a virtual currency that enabled people to purchase items in games and non-gaming applications on the Facebook Platform. One U.S. dollar was the equivalent of 10 Facebook Credits. Facebook Credits were available in 15 currencies including U.S. dollars, pound sterling, euros, and Danish kroner. It was expected that Facebook would eventually expand Credits into a micropayment system open to any Facebook application, whether a game or a media company application. While the Facebook Credits website is still active, Facebook has announced that it is doing away with Facebook Credits in favor of local currency. Facebook Credits went into its alpha stage in May 2009 and progressed into the beta stage in February 2010, which ended in January 2011. At that time, Facebook announced all Facebook game developers would be required to process payments only through Facebook Credits from July 1, 2011. Facebook retains 30% and developers get 70% of all revenue earned through Credits.

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