Starting July 1st, Facebook will require all social game developers on the Facebook canvas platform to process payments through Facebook Credits. Facebook Credits is a virtual currency that enables transactions across games on Facebook. With Facebook Credits, people enter their payment information once and can buy, earn and spend safely across lots of different games. Facebook Credits is currently used in more than 350 applications from 150 developers, representing more than 70% of virtual goods transactions volume on Facebook.

All developers keep 70% of the revenue from virtual goods transactions using Facebook Credits. Although Facebook is not requiring developers to use Facebook Credits as their sole in-game currency, it is offering special incentives to those who do.

Facebook said that it would work closely with developers to onboard those who are not yet using Facebook Credits, collect feedback to improve the product and help them developers grow their revenue on Facebook.

In an effort to attract mode developers, Facebook is also now introducing special incentives for developers who choose the level of integration of the credits. These developers will receive early access to product features and premium promotion on Facebook, including featured placement on the Games Dashboard, premium targeting for ads, and access to new co-promotion opportunities.