Facebook allows offering subscriptions

Facebook will make it possible for application developers to offer subscriptions. With this, the social networking site wants to offer developers a new way to monetize Facebook apps.

On its developer blog, Facebook know that the ability to charge subscription fees to users will be available in July. Developers can then offer additional content or services for a monthly fee. According to the social network, the subscription feature is currently being tested by companies like Zynga and interested developers can already sign up. It was already possible for developers to have users pay once for certain content within the application.

It will also be possible to convert prices for certain content into local currency. Previously, a lot of content on Facebook had to be paid for with virtual money; with the option to pay directly in local currency, the site hopes to simplify the purchasing process for users. Facebook also seems to stop with its own credit system; Users’ Facebook Credits are converted to their home currency equivalent. The ability to use local currency when serving content will be available in the coming months. Developers should have built in the ability to pay in local currency by the end of the year. For subscriptions, payments in local currency will be used immediately upon introduction.

Facebook is looking for new ways to make money. Currently, the site mainly derives its revenue from advertisements. It recently emerged that Facebook is experimenting with the possibility of charging users to promote their status updates.