Growth In Facebook's Payments Division Is Blowing Away Its Ad Division

facebook paymentsPayments are becoming a larger chunk of Facebook’s revenue.

Revenue from Facebook’s payments division nearly doubled between the first quarter of 2011 and the first quarter of 2012, according to Facebook’s most recent filing with the Securities and Exchange commission.That’s compared to 37 per cent revenue growth in Facebook’s advertising division.

Facebook brought in $186 million in revenue from its payments division in Q1 2012, up from $94 million in Q1 2011.

Facebook takes a 30 per cent cut of each transaction that happens on Facebook — like when a FarmVille player buys a cow or a new piece of land.

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