Facebook ads in-app subscriptions, adopts local currency payments

Facebook appears to be intent on an overhaul of its app services. After opening a Web and mobile app store earlier in June, the company has announced it's allowing developers to charge monthly subscription fees.

Users will be able to access special content or sign up for premium plans by shelling out monthly fees set by the developer, but to be greater than $1 per month. The method is similar to the in-app subscription billing available in Android and iOS apps and affords developers an opportunity to further monetise their apps.

Game developers Kixeye and Zynga are currently testing the system.

In other Facebook payment news, the social network announced it's getting rid of Credits as its primary currency. Instead, it will operate using local currency -- US dollars in the States, Euros in Europe, Yen in Japan. The company has said it will convert existing Credits into the applicable currency.

"Most games on Facebook have implemented their own virtual currencies, reducing the need for a platform-wide virtual currency," the company wrote in a blog post.

"Today's announcement doesn't change the economic relationship between the two companies," Zynga, the company behind the popular FarmVille, said in a statement. "We'll be working with Facebook over the coming months as they phase out Facebook credits and will be sharing more details on this when we report our Q2 earnings."