A form of virtual currency in Facebook that can be purchased (with real money) in order to acquire virtual goods and services within a variety of Facebook Apps and Games. Facebook credits can be purchased using a credit card, PayPal account, mobile phone, Facebook Credits gift card or one of more than eighty other payment methods, and the credits can be used on any game or app on Facebook that supports Facebook Credits.
For developers, Facebook Credits operate on a payment model similar to Apple's App Store and Google's Google Play (formerly Android Market) mobile app stores, with developers keeping 70% of the revenue generated from virtual goods transactions using Facebook Credits.
In a rather surprising move, Facebook announced in June 2012 that they would be phasing out the Facebook Credits system. While the social networking site is dropping the Facebook Credits name, it plans to retain its payment processing system and will enable developers to use their own in-app virtual currencies instead of Facebook Credits as well as charge subscription fees for apps.
Stay up to date on the latest developments in Internet terminology with a free weekly newsletter from Webopedia. Join to subscribe now.
From cute electronic toys to VR gaming, here are 5 hot gifts to give to your special tech enthusiast this holiday season. Read More »What's Hot in Tech: AI Tops the List
Like everything in technology, AI touches on so many other trends, like self-driving cars and automation, and Big Data and the Internet of Things... Read More »DevOp's Role in Application Security
As organizations rush to release new applications, security appears to be getting short shrift. DevSecOps is a new approach that holds promise. Read More »
Java is a high-level programming language. This guide describes the basics of Java, providing an overview of syntax, variables, data types and... Read More »Java Basics, Part 2
This second Study Guide describes the basics of Java, providing an overview of operators, modifiers and control Structures. Read More »The 7 Layers of the OSI Model
The Open System Interconnection (OSI) model defines a networking framework to implement protocols in seven layers. Use this handy guide to compare... Read More »