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March 09, 2011

Facebook To Sell Digital Media with Credits: Challenges and Opportunities

Facebook logo 140pxInside Facebook has an interesting post on Warner Brothers accepting Facebook Credits as form of payment for movie rentals.
Today Warner Brothers announced that it will begin renting movies to users through Facebook applications, starting with The Dark Knight. By allowing users to pay for digital content, not just virtual goods, with its virtual currency Facebook Credits, Facebook is moving in a bold new direction that encroaches on the territory of iTunes and NetFlix.

PayPal Names Head of Retail Products

PayPal logo 140pxIn an important milestone, PayPal has announced that it has named Don Kingsborough as vice president of Retail and Prepaid Products.
Don was the founder and CEO of Blackhawk Network, a leader in prepaid third party card products and a subsidiary of Safeway Foods. There, Don launched and operated the Gift Card Mall, Inc. kiosks in tens of thousands of retailers in the world, including our very own eBay gift card.
This is the first time that PayPal has formally taken action to target the offline payments opportunity.

First Data Releases February 2011 SpendTrend

First data logo 140pxFirst Data has released its First Data SpendTrend analysis for the full month of February 2011 compared to February 2010.
Overall dollar volume growth increased 8.5% in February, up from January’s 7.4% growth, as many retailers reported sales that beat expectations. Consumers demonstrated a renewed faith in the economic recovery and the unemployment rate dropped to 8.9% in February.
SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

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