Facebook and PayPal announced today that Facebook app developers can now select PayPal as a payout option when they integrate Facebook Credits in their apps. This is huge news for e-commerce on Facebook, and should be ultimately for the success of Facebook Credits in general.
"Adding PayPal offers more flexibility and choice for payouts and makes it even easier to monetize your app with Facebook Credits," said Facebook's Loren Cheng on the FB Developer blog. "When signing up for Facebook Credits for the first time, you can now add an existing PayPal account in the onboarding flow. You can also sign up for a new PayPal account by securely repurposing all the information you entered for Credits Onboarding to create a PayPal account."
"This should be good news for developers in 22 countries, including Turkey, India and Japan, who previously had to supply additional credentials to authorize payouts to their bank account, or who were not able to use Facebook Credits at all," adds Chewng. "By adding PayPal as a payout option, we have doubled the number of countries where developers can get started with Facebook Credits immediately."
"As the world becomes increasingly connected, consumers expect to be able to pay for anything, anytime, any way," said PayPal Senior Director of Digital Goods Carey Kolaja on the company's blog. "Turning those expectations into reality is no small undertaking and PayPal is uniquely positioned to deliver on them. Whether you’re playing a game on your Xbox console, buying your morning latte at Starbucks or building the next break out Facebook app, you can pay and get paid with PayPal."
Over 250 developers are currently using Facebook Credits with over 500 applications.