Facebook Credits was a virtual currency that enabled people to purchase items in games and non-gaming applications on the Facebook Platform. One U.S. dollar was the equivalent of 10 Facebook Credits. Facebook Credits were available in 15 currencies including U.S. dollars, pound sterling, euros, and Danish kroner. It was expected that Facebook would eventually expand Credits into a micropayment system open to any Facebook application, whether a game or a media company application. While the Facebook Credits website is still active, Facebook has announced that it is doing away with Facebook Credits in favor of local currency.
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What is 'Facebook Credits'
Virtual currency (currency used only on the internet) that can be used to buy goods in online games through the social networking platform, Facebook. Facebook credits can be purchased online using a credit card, PayPal account, mobile phone or other various payment methods, or offline at various retailers. The credits can be used to purchase games or software applications, also referred to as apps.
Explaining 'Facebook Credits'
Facebook credits can be used to buy intangible goods such as virtual gifts, parcels of virtual real estate, virtual weapons, tools and animals in platform-based video games. As of 2011, this virtual money is backed by real currency that's available in 15 different countries.