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19 Feb 2010
PayPal has signed a deal to provide payment processing services for social networking giant Facebook.
The company revealed on Thursday that it will process advertising payments and online Facebook Credit transactions in the company's gift shop service and within Facebook's third-party applications.
The two companies said that the deal will make it easier for customers and advertisers to do business with Facebook. In particular, the companies hope to boost international advertising interest.
"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," said Dan Levy, director of payment operations at Facebook.
"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."
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