Mobile Payment Industry News

Facebook begins testing virtual payments system

Socialnetworking site Facebook has begun testing its much-anticipated virtualcurrency payments system with third party application GroupCard.

Userswho want to buy a GroupCard e-card through the company's app are nowoffered the option of clicking on a "Pay with Facebook" button.

Theythen pay with their credits, worth 10 cents each. The currency can bebought - with a credit card - from the Facebook gift shop.The testing comes after Facebook updated its payments terms and conditions on Wednesday to pave the way for the platform.

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