Facebook to accept payments via Paypal
Social networking giant Facebook is now accepting payments for advertising services via the Paypal network, allowing a larger audience to reach its users.
Popular social networking site Facebook will now accept payments for goods and services via the Paypal online payment system, in a move aimed at making transactions easier for small business owners worldwide.
Under the new partnership, Facebook will allow companies and individuals to buy advertising for the site via the Paypal transaction system. Unlike regular e-commerce sites, Ebay-owned Paypal allows users to fund a central account via bank debits or credit cards. Vendors such as Facebook then either receive a cheque from Paypal or a direct bank transfer.
Dan Levy, Facebook's director of payment operations commented: "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. 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."