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February 18, 2010

Facebook, PayPal enter into payment partnership

Allows advertisers to use PayPal to pay for Facebook Ads

By CBR Staff Writer

Facebook and eBay-owned payment system PayPal have entered into a strategic relationship to offer PayPal in key parts of the social networking site’s advertising and developer systems.

As part of the relationship, advertisers will be able to use PayPal to pay for Facebook Ads through the company’s online advertising tool.

For businesses in areas where the payment process can be difficult and expensive, the new PayPal option makes it easier for small international advertisers to run the campaigns on Facebook, the company claims.

Under the relationship, PayPal will become a payment option for Facebook Credits, which is currently being tested in a small number of games and applications, to give users a fast way to buy virtual goods on Facebook, including items from the Facebook Gift Shop.

Dan Levy, director of payment operations at Facebook, said: “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.”

Osama Bedier, vice president of platform and emerging technology at PayPal, said: “Put simply, PayPal’s business is payments. We make it easier for customers to send and receive money online in 24 currencies and 190 markets around the world. We’ve always been an important part of the developer ecosystem on Facebook, and we’re excited to expand our relationship directly with Facebook to help grow advertisers’ and developers’ businesses.”

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