From today, the estimated 400 million users of the social network Facebook will be able to use a new e-payment system called "Buxter".
From today, the estimated 400 million users of the social network Facebook will be able to use a new e-payment system called "Buxter". Developed by ClickandBuy, it is the only platform within a social media network handling real currencies instead of virtual ones.
With just a few clicks of the mouse, users can register and load their own Buxter e-wallet in Euros or US dollars (with a limit of €50.00 for now).
Christian von Hammel-Bonten, Senior VP & Head of Product Management at Buxter's creators, ClickandBuy says: "From now on, Facebook users can not only share their status and pictures, they can also share real money in a way that is fast, easy and secure."
The application could prove to be equally helpful for friends and family. Facebook users are able to transfer, receive and request money from other Facebook users via Buxter, free of charge. And for a fee of 1.9% (min. €2.00 or $3.00) they can withdraw money from their ClickandBuy account. The application will initially be available in Euros and US Dollars and can be found at http://apps.facebook.com/mybuxter
At least as important though, is that this development enables Facebook's transition from a successful social network to an e-commerce marketplace, that is not contained in a closed system. Buxter is designed to encourage third party developers by giving them access to the Buxter-Facebook API. This way, third party developers are able to create individual business solutions within Facebook and then receive payments through Buxter.
According to Buxter, the services that could use the e-payment facility range from movie tickets to lunch box. Perhaps more importantly, this is the implementation of an app that serves the Facebook community. Users may want to integrate the app into their own profile and from then on they can collect money from other users, for an upcoming birthday party or raising money for charity.
Charles Fraenkel, CEO, ClickandBuy adds: "Buxter is the application that will see Facebook members use the platform not just as a way to stay in touch but also as a fast, easy and secure way to exchange money or buy and sell products and services."
