The social networking giant, Facebook today announced a major announcement as it teamed up with PayPal. This would enable the platform’s users to utilize the PayPal payment methods to pay for their Facebook Credits. The rumor finally comes down to this after al the brouhaha being created about Facebook releasing its very own payment platform to compete with PayPal.
So what does this mean? Very simply that the social network would continue with its Credits platform to enable users buy virtual goods, which by far are pretty low on payments and can be trusted upon. We all know making such transactions always has risks involved and introducing an entirely new method has all the troubles you can think of. Of course the social network can have a team whose task is to monitor all transactions made across its platform but it has its complications and the major is that it is quite expensive. And there is absolutely no point in spending too much on a method that isn’t going to have a big turn over.
I bet the social network did try and do a lot of thinking and deciding to team with PayPal wouldn’t have been its top priority. But PayPal is by far more credible than its very own payment methods like Zhong, etc. PayPal has over 80 Million users, which shows that it has the trust of a huge Web population.
