Facebook to replace Credits system with local currencyJune 20, 2012 - 13:31 AMT PanARMENIAN.Net - Facebook is closing its Credits system for online payments across the social network, replacing it with local currency and a new subscription payments option, SlashGear reports. “Since we introduced Credits in 2009,” Facebook’s Prashant Fuloria told developers, “most games on Facebook have implemented their own virtual currencies, reducing the need for a platform-wide virtual currency.” The new system has already begun rolling out, and all apps and games developers selling virtual items must use local currency by the end of the year. The local currency system will give developers more flexibility, Facebook says, allowing them to be more consistent with their non-U.S. pricing by setting different values in each market. It will also be more transparent to users, the social site argues, without the need to mentally calculate what a Credits purchase means in their home currency. Facebook will be automatically converting users’ Credits into the appropriate amount of local currency, though they’ll still be able to redeem any Credits gift cards they already have. In-app local currency payments will be enabled “in the next few months” Fuloria says. As for subscriptions, all Facebook.com and mobile web apps will be able to set up recurring payments for users, such as for regularly delivered monthly content. Expected to be operational in July, the system already uses local currency pricing. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |