Create a Virtual Currency

INILAH.COM, Jakarta - online games, is one of the reasons Facebook is growing rapidly. Social networking sites are also felt the need to create its own currency in the game.

"We need a Credit to encourage the growth of virtual goods transactions. But there is still much needed development in the future, "said Facebook CEO Mark Zuckerberg.

Credit is a kind of virtual currency, currently still in testing stage. This system will attempt to generate profits for up. Thus, this social networking site to grab the title of Google's Internet dominance.

Credit will become a micro-payment system that can be opened by any application. Especially today, the largest social networking world has millions of active applications. Looking ahead, some features such as music, video or news article may have to be charged.

With Credit, users have one currency that they can spend on any game. This system is similar to Apple's App Store Inc. The user only once to enter credit card or PayPal account to purchase any application.

This currency was once used in a popular game up. This month, Credit managed to become the exclusive payment method for artificial Zynga's games, the number one Facebook application developer. The company is expected to rake in profits up to U.S. $ 500 million during 2010.

From the application, up a share of 30% for the game kind of Mafia Wars and Farmville. Before the end of the year, up targeting Credit can be used extensively. Inside Network Institute researcher predicts the market valuation of these can grow up to U.S. $ 835 million.

Some analysts and industry insiders suggest, Credit can align the position up with some sites like PayPal, Google, Amazon and other online transactions. This was revealed by Alex Rampell, CEO of TrialPay, a company that offers advertising credit up for free to buyers of certain products of his own.

"If they can get 50 million people who want to register a credit card, why Facebook is not," he said. In a similar vein, Senior VP Boku, Ron Hirson, a provider of online payment services through mobile phone saying the same thing. He pointed Facebook Connect as one way.

Credit System is also supported by a great technician and graduated from PayPal product teams. As Deb Liu, former director of corporate strategy PayPal who is now a marketing manager for Credit. "Credit is like PayPal. That is why we are moving fast and changing industry. "

Currently, the Credit did not become a competitor PayPal or other payment systems. Last February, Facebook has signed agreements with PayPal and eBay. Credit can now be purchased through PayPal and credit card or mobile payment service.

As the credit expansion, the competition gets the commercial growth in the digital goods is more strict. Including Apple, Google and even Amazon. Analysts said the ambition up may experience similar difficulties Google and Amazon.

"Facebook is an innovative company. But there are two other large innovative companies, Google and Amazon. They have devoted much time in the payments business, "said Mark Mahaney, an analyst at Citigroup. But Mahaney stated up a huge opportunity