Is Facebook Gearing Up To Launch A Payment System?

Facebook has a huge user base but modest revenue. How to change that? Advertising may eventually work, but so far social networks have proved ad-resistant. What about creating a PayPal-like system that allows users to buy virtual goods and other knick-knacks?

Officials at the company have been debating the merits of such a system, and now clues are leaking out that point to a possible launch — perhaps as soon as two weeks from now, at Facebook’s f8 developer conference.

Nick O’Neill at All Facebook reports that several users have noticed that Facebook has been what looks to be a “secure” version of the site — one that used the SSL (Secure Sockets Layers) encryption. That encryption is often used by sites that collect payment information from users; its hard to figure out why Facebook would use SSL for any other reason. The counter-argument: Just because Facebook is playing with SSL doesn’t mean they’ll implement it. Stay tuned.

Pic from Joshua Backer

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