Facebook postponed Payment system.

Submitted by codeawarrior on 5 January, 2009 - 14:09.

Webworld

After a year of intense planning and beta testing Facebook decided to postpone its plans to roll out its very own payment system for users and application developers Silicon Alley reports. But for me its sounds crazy, I believe Facebook need a Payment system, the said payment system will allow Facebook applications to start accepting payments from users directly inside their Facebook applications, a system that allow users to conduct e-commerce translations without the need for third party system such as Paypal. The Facebook Payment system would make purchasing of goods and services much more integrated with the Facebook experience. It will also become a significant revenue generator for Facebook through Commissions; it will give Facebook a lot more credit cards information on file that could be use for future transactions such as buying virtual gifts. The scraps plans for Facebook Payment System created a buzz at Facebook. Developers end up being forced to work harder. Fcaebook has been building a little economy, and we all knows there’s a little buying and selling going on at Facebook, a Payment System could make sense. I’m sure there’s a plenty of good reasons for Facebook decision to postpone the roll out of its very own Payment System

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