Tag: payments

Say goodbye to your Facebook Credits

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The monetary value isn’t going away, but Facebook Credits, the social network’s universal currency of the last year or two, is being transferred into the local currency of the users. That’s probably a good thing. Facebook need to decide where to focus their energies on, and I don’t think the answer was a new currency and a 30% rake. The answer is mobile. I’d expect the investment to carry on with the Facebook Home project and lots of iteration.

Square racks up the credit bill to take on the credit cards

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There’s something delightfully old school and twisted about Square grabbing as much VC capital as possible – another $100 million today, valuing them at over $1 billion -  knowing that the cash is effectively a loan which will have to be paid back (via IPO or a sale) in the future with a lot of return. That’s a huge APR to take on board just to challenge the credit card companies in their own backyard.