Facebook recently announced that it is discontinuing its Facebook Credits feature, a virtual payment system that many used for games and other applications available through the Facebook marketplace. Many companies are happy about the end of credits, in favor of using real world dollars. How many people actually used Facebook Credits? And will there ever be a new payment system available for Facebook users in the future?
In Ask Your Target Market’s latest survey, 21% of respondents said they have used Facebook Credits. Of those respondents who have not, only 3% said they would definitely be interested in using a similar type of virtual currency. 11% said they would probably be interested in using virtual currency. 42% said they would probably not use online currency like Facebook Credits. And 45% said they would definitely not be interested in using online currency.
Since gaming was such an integral part of Facebook Credits, it makes sense that gamers were more likely to use credits. Overall, 19% of respondents said they often play games on Facebook. 22% said they sometimes play games on Facebook. 13% said they have played games once or twice. 38% have not. And 9% said they don’t have a Facebook account. Of those who said they play games often, 54% said they have used Facebook Credits.
When Facebook Credits was first released, many speculated that it might compete with PayPal to become the next leader in virtual payment systems. 92% of US consumers said they currently have an account with PayPal or another payment system that is exclusively used online. 2% have used these types of systems in the past. And 6% have never used virtual currency.
You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.
What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.
Results were collected on June 26 via AYTM’s online survey panel.