Facebook Credits to work on Apple’s iTunes platform

Yes, Facebook credits are accepted by Apple.

ADOTAS – Zuck Bucks have taken another step toward becoming real money: with the launch of Apple’s iCloud service, it’s been unofficially announced that Facebook and Apple will honor credits purchased on each other’s platforms for the same game, as long as the credits are priced the same on both platforms.

As games like Ubisoft’s “Tom Clancy’s Ghost Recon” are released across consoles, the Internet, mobile devices, and Facebook, the siloed state of video game cash are likely to generate consumer aggravation. In the current state of affairs, a gamer who purchased game credits on Facebook (through Facebook Credits) would be unable to use them on a different platform (e.g., through Apple and iCloud).

As a result, gamers will be pleased with this development, and gaming businesses will be delighted to manage balances between platforms as long as the userbase continues to mash buttons. Facebook is still pleased because it receives 30% of all Credits earnings.

But here’s the question: Is the Apple-Facebook pact a one-time transaction or the start of a larger relationship? Last year, Facebook CEO Mark Zuckerberg and Apple CEO Steve Jobs had dinner (could Wallace Shawn portray Jobs in the film adaptation? ), but no one knows what they discussed. Apple, in particular, might benefit from cooperation because the lack of Facebook integration in its Ping social network was a major reason for its failure.

Consider using Facebook Credits to purchase albums on iTunes or apps on the App Store… It doesn’t seem impossible, and it might be a huge source of cash for Facebook. Last month, Facebook Deals was relaunched as a group-buying service, allowing users to purchase coupons for real-world goods using Facebook Credits. All indications are that Zuck Bucks will gain even more purchasing power…

Related: Apple-Facebook relationship almost ended over HP TouchPad (rumor)

On Facebook, you can now purchase iTunes credits.

This just in: Apple and Facebook have reached an agreement to make digital iTunes gift cards available on Facebook’s Gifts marketplace. It’s quite simple: just choose an iTunes Digital Gift Card and Facebook will charge the amount to your credit card on file. You can then select a Facebook friend to whom you want to send the card. Isn’t an e-commerce partnership between Facebook and Apple something to write home about?

Whatever the case may be, the fact that Apple decided to give away a portion of the money from these cards astounds me. And how could it not? Facebook, not the iTunes Store, handles these purchases. The iTunes Gift Card, by the way, is a $2 billion a year business…

Facebook issued a press statement announcing the news:

With Facebook Gifts, you can now send iTunes digital gifts to your friends and recommend music, movies, games, applications, and more from the iTunes Store.

For $10, $15, $25, or $50, you can get a digital present from iTunes.

Or, if you’re old-fashioned, you could go to Best Buy and order the real thing, which comes with a 15% Christmas discount, and have it shipped to your physical address.

It’s worth mentioning that Zuckerberg’s company recently teamed with Hulu, Pandora, and Rdio to sell digital subscriptions via Facebook. Another notable collaboration is Starbucks, which allows coffee drinkers to send cards to their pals via the service.

Mike Isaac of AllThingsD breaks down the economics behind the iTunes credit agreement, citing Apple’s most recent 10-K, which shows the iTunes Store brought in $7.5 billion in the fiscal year 2012.

According to industry estimates, iTunes gift cards account for more than $2 billion of total revenue. According to our sources, existing businesses who sell iTunes gift cards (such as Best Buy, Target, and others) typically take roughly 13 percent of each dollar spent on the cards.

So, how much of Facebook’s money do they get to keep?

So, say, a $260 million market size for physical iTunes cards distributed among participating stores, of which Facebook will now be a part.

Although that slice of the pie is little in comparison to Facebook’s overall income ($3.71 billion in 2011), another digital product with low overhead and great demand is a success for the Gifts department.

Read Also: How To Make a GameStop Credit Card Payment

Apple will profit immediately from having iTunes credits readily available to Facebook’s 1+ billion users.

Now, I’m not a big fan of using Facebook Credits. Furthermore, I have never bought a gift on Facebook’s platform.

However, with popular items like iTunes credits making their way onto Facebook’s virtual store shelves, there’s no excuse not to buy a digital iTunes credit for a Facebook friend.

Of course, if you wanted to, you could give yourself an iTunes credit.

Will you use Facebook to purchase iTunes credits?