Breaking news: Facebook to offer retail credits across Asia

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Facebook and MOL sign micropayment partnership

Facebook and Malaysia-based MOL Global today announced a partnership that  will broaden the social network’s asia-wide payment options.

Using the MOL Points micropayment system, Facebook users will be able to purchase Facebook’s Facebook Credit through MOL’s online portals or pay through more than 540,000 physical, online and mobile channels in 73 countries worldwide.

According to the press release, “Facebook Credits enable users to buy and spend virtual currency in more than 150 applications on Facebook from many leading developers, eliminating the frustration of having to enter payment details separately for each application. Every month, more than 70 percent of Facebook members engage with applications on Facebook Platform.”

This step will  extend the number of ways consumers can purchase Facebook Credits, especially for those who are reluctant to use credit cards for online purchases. As social networks become more pervasive and seek new ways to monetize their platforms, ensuring consumer confidence and convenience will be critical.

Learning lessons from established micropayment options such as Twitpay, SecondLife’s Linden Dollars, and  World of Warcraft’s WoW Gold, it will be interesting to see  how MOL Points changes Asian consumer adoption of Facebook Credits.

Thanks to zhiQ for the photo and breaking this news.