Facebook to Throw Virtual Money in Asian Markets

by on July 9, 2010

Social networking Maestro the Facebook has started a new plan in order to attract more and more users from the Asian market, specially those who don’t have credit cards or those who don’t want to take the risk of making online payments.

The Internet Biggie is planning a partnership with a Malaysian company in order to sell credits at retail outlets in the Asian market, targeting its younger generation users who often don’t have credit cards, hence making it a lot easier for millions to purchase virtual goods and play games on the site. The sites latest development is being aimed towards an increased revenue generation.

The venture is supported by the MOL, Electronic Payments Company of the well known Asian Business Tycoon Vincent Tan. The online currency is said to hit the stores from August 1 at more than 500,000 shops including many branded supermarkets and cyber café’s across five Countries including, India, Australia and New Zealand.

Asia is comprised of an enormous Gaming group, Company Spokesperson Nor Badron Said. “Due to no credit card scenario in the countries the developers of the multinational Internet Site Facebook are not making enough money”, says Nor .

On the other hand the rendering partner Company MOL is already a reseller of prepaid credits for many online games through its established network of stores, but it is the first time that people will actually be buying the credits for Facebook’s games and applications.

In the initial stages of the whole project the credits will be sold in the Southeast Asian markets, of Malaysia, Thailand, Singapore, Indonesia and the Philippines. It is expected that with this development there will be a double digit increase in revenue generation of the Website.

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