Social Payment: Facebook Payment Inc Subsidiary Now Looking for a Director
- Facebook is now looking for a director for its new subsidiary Facebook Payment Inc. Created in December 2010.
- Few communications were made but Facebook Payment Inc is now registered in several US States.
- This new subsidiary asserts Facebook’s ambition to expand on the market of payment. The transactions performed through the social network platform –Facebook Credits (Farmville and other Zynga Games, etc.) or advertising space purchases– represent several hundreds million dollars every year.
- Facebook disposes of several alternatives the exploit the potential of its payment network. Among these, the creation of a private payment scheme based on Facebook Credits which would be accepted both online and for hand-to-hand transactions.
- Facebook should use this new division to develop mobile transactions. In fact, Facebook leaders wish to propose the same functions on the mobile application and on the Web version. These functions include Facebook Credits as well as other payment features. Facebook recently bought the Israeli startup Snaptu, specialist in the development of mobile applications.