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Facebook, after an year of beta testing, has postponed the launch of its own payments system for users and application developers. The payments system was similar to PayPal.

According to a Facebook representative:

We’ve been excited by advertising and payments solutions provided by the market, and we currently do not have anything to share around a Facebook Payments system at this time.

Though the system is not coming up right now, we can expect it to be out sometime next year.