Facebook Credits is a virtual currency that enables fast and easy transactions across games on Facebook. Facebook Credits is currently used in more than 350 apps from 150 developers, representing more than 70% of virtual goods transactions volume on Facebook.
Facebook today said that "starting July 1st, all social game developers on the Facebook canvas platform will have to process payments through Facebook Credits. All developers keep 70% of the revenue from virtual goods transactions using Facebook Credits. Although we're not requiring developers to use Facebook Credits as their sole in-game currency, we're offering special incentives to those who do.
These developers will receive early access to product features and premium promotion on Facebook, including featured placement on the Games Dashboard, premium targeting for ads, and access to new co-promotion opportunities.
Many of our partners have seen great results so far with Facebook Credits, including Zynga, Playfish, CrowdStar, Digital Chocolate, PopCap, Arkadium and others."
"Over the next five months, we'll work closely with developers to onboard those who're not yet using Facebook Credits, collect feedback to improve the product, continue to innovate on the user experience, and help developers grow their revenue on Facebook. We're excited to give Facebook users the confidence that when they purchase Facebook Credits or receive them as a gift, they can spend them in any game on Facebook," said Facebook