According to Tom Cheredar in VentureBeat, “The Deals launch will also be the first major push for Facebook’s virtual currency, Facebook Credits. Users will use credits to purchase offers from its Deals service.”
This application of Credits is not quite the “real-world” crossover that some have been predicting; in fact, one is only purchasing a voucher for a deal. The depth of the discounting from merchants has not been revealed, nor has the notional “exchange rate” arising from the use of either Credits or credit cards to purchase deals in Facebook.
Click here to read the story: http://venturebeat.com/2011/04/25/facebook-launches-deals/
Click here to learn more from Facebook: http://www.facebook.com/deals/business/
Click here for the blog: http://bits.blogs.nytimes.com/2011/04/25/facebook-is-latest-rival-to-groupon-livingsocial-facebook/