Facebook Looking At Payment Processing

So Facebook is starting to get in to the deep end of the online game - they are looking to create a virtual wallet, according to the InsideFacebook blog.

Working with mobile payment processor Zong, Facebook could be launching an online payment option soon.

This is a smart move on their part and one Twitter might want to consider as well. We have our social media programs of choice installed on our smart phones - maybe it is time to have them be able to do seamless payments. Hey mobile device as credit card has been used in Europe for years.

Facebook outlines their testing of this here. They seem serious.

About the author

Frank Watson has been involved with the Web since it started. For the past five years, he headed SEM for FXCM -- at one time one of the top 25 spenders with AdWords. He has worked with most of the major analytics companies and pioneered the ability to tie online marketing with offline conversion.

He has now started his own marketing agency, Kangamurra Media. This new venture will keep him busy when he is not editing the Search Engine Watch forums, blogging at a number of authoritative sites, and developing some interesting online community sites.

He was one of the first 100 AdWords Professionals, a Yahoo and Overture Ambassador, and a member or mod of many of the industry forums. He is also on the Click Quality Council and has worked hard to diminish click fraud.