Friday, February 19, 2010
Sources : http://www.facebook.com/press/releases.php?p=144261#!/press/releases.php?p=144261
PALO ALTO, Calif. and SAN JOSE, Calif. -- February 18, 2010 -- Facebook and PayPal today announced a strategic relationship to offer PayPal in key parts of Facebook's advertising and developer systems.
As part of the relationship, advertisers around the world will soon be able to use PayPal to pay for Facebook Ads through the company's online advertising tool. For businesses in areas where the payment process can be difficult and expensive, the option to pay with PayPal makes it even easier for advertisers, particularly small international companies, to run campaigns on Facebook. Facebook reaches more than 400 million people, 70 percent of whom live outside the United States.
In addition, PayPal will become a payment option for Facebook Credits, which is currently being tested in a small number of games and applications. The goal of Facebook Credits is to give users a fast and easy way to buy virtual goods on Facebook, including items from the Facebook Gift Shop.
"We want to give the people who use Facebook, as well as advertisers and developers, a fast and trusted way to pay across our service," said Dan Levy, director of payment operations, Facebook. "As our business has grown, offering local methods of payment has become increasingly important for advertisers who want to buy Facebook Ads. Teaming with PayPal, a global leader in online payments, makes this possible."
"Put simply, PayPal's business is payments. We make it easier for customers to send and receive money online in 24 currencies and 190 markets around the world," said Osama Bedier, PayPal's vice president of platform and emerging technology. "We've always been an important part of the developer ecosystem on Facebook, and we're excited to expand our relationship directly with Facebook to help grow advertisers' and developers' businesses."
PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 81 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at https://www.paypal.com.
Founded in February 2004, Facebook's mission is to give people the power to share and make the world more open and connected. Anyone can sign up for Facebook and interact with the people they know in a trusted environment. Facebook is a privately held company and is headquartered in Palo Alto, Calif.
What we think???
This could be a very good way to fully utilise our paypal account. instead of just paying for transaction online, we can also pay for advertising.. Great!!!