Electronic Arts said today it has signed a five-year agreement with Facebook under  which Facebook Credits will become the exclusive payment method for EA games on the social networking site.

As part of the agreement, EA will receive the same 70 percent revenue share for Facebook Credits as is standard for all developers on Facebook.

Pet Society and Restaurant City from Playfish, a division of EA, are two of the most popular games on Facebook in terms of daily users. EA said its soccer and football games are also popular on Facebook.

“We are pleased to enter into this long-term partnership with EA to make it easier for people to purchase virtual goods across some of the most popular games on Facebook,” said Dan Rose, vice president of partnerships and platform marketing at Facebook.

“Playfish has a great reputation for building high-quality games on Facebook, and we look forward to working even more closely with them and the larger team at EA.”

EA has also recently announced the launch of Monopoly for Facebook along with Pogo Games including Poppit! and Word Whomp as well as Hasbro games such as Scrabble and Boggle.

“Since gaming has emerged as the most popular category of applications on Facebook, the natural next step is for EA to broaden its relationship with Facebook and its 500 million users,” said Barry Cottle, Senior Vice President and General Manager for EA Interactive.