Facebook seems to have given up on the idea of Facebook Credits becoming a challenger to alternative services like PayPal and Google Checkout.
The company is switching to regular payment platforms with the introduction of subscriptions and local currency pricing.
Facebook said that developers can now program their apps to seek payments on a monthly basis through a subscription.
The company is also going to offer local currency option which would let developers price their products and services differently for different markets. Consumers would be able to see the prices in their local currencies making it easy for them to decide if they want to go for it.
Many developers successfully monetize their apps with one-time purchases of virtual items. Beginning in July, we are launching subscriptions as another way for you to build your businesses on Facebook. With subscriptions, you can establish a recurring revenue stream and offer updated content or premium experiences for a monthly fee.
This transition will be seamless for your users on Facebook. Already, most people see items priced in their local currency in the payments flow. Additionally, we’ll convert any Credit balances into the equivalent amount of value in users’ local currency, which they can spend on in-app items in the same way they do today. People can still redeem gift cards and store unused balances in their account.