Facebook Inc. said on its developer blog Tuesday that the subscription feature will be available in July. The changes open up a new revenue stream for developers as well as for Facebook, which takes a 30 percent cut from all payments on its site.
People will still able to make payments on a one-time basis. Facebook is also replacing its own Credits currency with users' local currency. So U.S. users will pay in dollars and those in Japan will pay in yen.
Payments for virtual items, such as chips on "Zynga Poker," accounted for 17 percent of Facebook's revenue in the first quarter.
For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.
