Facebook will launch app subscriptions, will charge in local currencies

Facebook started rolling out their application hub, which they're calling App Center earlier this month, and now they're finding more ways to monetize off this hub. Starting next month, the social network will allow game developers like Zynga to charge users for subscriptions. Developers already allow in-app purchases, for instance, Zynga sells Farm Cash and splits the revenue with Facebook, but this new model will provide a steadier revenue stream. Of course, the revenue will still be split with Facebook where the developer hands over 30% of generated revenue to the social network. Facebook wrote in their Developers' Blog that devs can use this service to offer users premium content for a subscription fee.

App subscriptions: yet another way to make money

Facebook says that the service will be available through all of Facebook.com as well as Facebook mobile this coming July. In the mean time, developers can start their documentation process and signing up for more details. Test subscriptions are already being performed by developers, Kixeye and Zynga.

Facebook is also changing up its payments process a little bit. The social network launched Facebook Credits about two years ago to standardize payments in applications across the social network, however, since many applications eventually developed their own currencies, the need for Credits reduced. Therefore now, Facebook will start letting users pay in their own currency. So for instance, if you live in England, you will pay in Pounds Sterling, if you live in India, you will pay in Rupees. Facebook says, "By supporting pricing in local currency, we hope to simplify the purchase experience, give you more flexibility, and make it easier to reach a global audience of Facebook users who want a way to pay for your apps and games in their local currency. With local pricing, you will be able to set more granular and consistent prices for non-US users and price the same item differently on a market-by-market basis."

If you're one of those users who has purchased Facebook Credits, the social network will convert any balances into the equivalent of your local currency, which can be spent on in-app purchases the same way you've always been doing. Users will still be able to redeem gift cards and store unused balances in their accounts. The app subscriptions already use local currencies and in-app purchases will move over to local currencies over the next few months. Any apps that provide in-app purchases will be required to switch over to local currencies by the end of this year.