Report: Content Providers Prefer Facebook Credits for Social Gaming Payments
April 5, 2012
Facebook Credits has been identified as the best available social payment solution for media content vendors, according to recent research conducted by Finnish consultancy Global Intelligence Alliance (GIA). The company conducted in-depth interviews with some of the largest social media and game developers in the U.S., Europe and Asia and found they were unsatisfied with most of the payment options available.
Vendors told GIA that credit-card payments were reliable, but insufficient for customers with privacy concerns or with no access to credit cards; direct carrier billing providers took too long to process payments (some said payments were delayed as long as two months); and global banks were slow and lacked understanding of online users. Payment solutions for social gaming should “provide a low threshold of entry for new end-users, offer chargeback capabilities and be generic enough so that future services are easy to implement,” the research found. “They must have the ability to handle microtransactions in large numbers, payments that bypass the need to set up credit card or bank accounts, and simpler one-click payment on mobile devices.”
GIA says Facebook Credits addresses these concerns. Facebook offers “a universal platform” by which users can buy digital content using many methods including PayPal, mobile phones, banks, credit cards, cash cards and convenience stores in some countries. GIA concludes that the diverse and locally relevant payment options make them very attractive to adopt.