Facebook Drops Credits

Facebook announced the discontinuation of its Credits platform in favor of local currencies and that it will allow app developers to offer in-app subscriptions. Starting in July, users can sign up for recurring subscriptions in addition to one-time, in-app purchases on all Facebook.com and mobile Web apps, Facebook said in a blog post.

Facebook's Prashant Fuloria:

With subscriptions, you can establish a recurring revenue stream and offer updated content or premium experiences for a monthly fee