Facebook, PayPal Forge Online Payment Partnership

February 19th, 2010 at 12:00 am

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Facebook is slowly heading into e-commerce territory. Aside from being the most popular social networking site today, it hasn’t been yet able to fully monetize its advantage. They are looking towards increasing the means to create income through the site. Although they may not yet be announcing their plans to do this, they have been slowly moving toward this path for some time now.

One of the hints that Facebook may be going towards increasing its online business potential is by announcing its strategic relationship with online payment system giant PayPal. This new partnership will allow an easier and convenient means of payment for advertisers and developers using the Facebook service. This will allow Facebook to further develop other valued services that may provide added income to their bottom line. What that would be is something we don’t know yet.

With PayPal being a global service that handles online payments from around 190 countries and 24 currencies, this would surely work well with reaching out to the global membership of Facebook. It does open quite a number of attractive opportunities for Facebook to finally fine the means to further increase their profitability. But then, there is also their own membership to consider for this. Whatever their plans are to make money on the site, it should be something that a majority of Facebook users would accept and welcome. If the plans they have in mind would have the opposite effect, then they will still have a long way to go.