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Even Facebook Is Going Local

To be honest, perhaps only a few Facebook users in Singapore used Facebook Credits. We can use it for Facebook Advertising payment but somehow we choose credit card or Paypal over Facebook Credit (unconsciously too perhaps).

Sometimes user may not aware “what should I pay or buy on Facebook?” Yep, that sort of questions may be answered in coming years as Facebook is now completely moving towards local currency payment.

What does it really mean?

The initial Facebook Credits concept was to become “universal”, which means, if I am residing in Singapore and would like to buy let’s say Plants VS Zombie 2 game item, I need to buy 3 Facebook credits which also equal to USD$3.
This kind of transaction is dependent to US Dollar and Singapore Dollar exchange rate. Well, perhaps this causes them some complicated stuffs behind.

With the new local currency payment API, according to Facebook Developer Blog post here:

Local currency payments gives developers much more control over their pricing and payments. As a result of the new payments API, you can now:

– Set prices for in-game items by market so users in different countries see the most marketable prices relevant to their currency.
– Cache static prices with Facebook and remove the blocking server request to collect item information at time of purchase, improving your app’s performance. Optionally, the pricing callback can still be used to price items dynamically, giving you full flexibility when deciding how to price your items.
– Realize additional reduced latency as a result of fewer server requests for payment completion, like the second server request to confirm order fulfillment and real-time updates to confirm the transaction.

So, as we see more of Facebook adapting to local context, we hope to see more ways of leveraging Facebook platform as a commerce platform especially for Singapore market.

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