As of today, the estimated 400 million users of the social network Facebook will be able to use "Buxter".
Developed by e-payment entrepreneur ClickandBuy it is the only platform within a social media network that handles real instead of virtual currencies.
With just a few clicks of the mouse, users can register and load their own "Buxter" E-wallet in Euro or US dollars (with a limit of € 50,- for now).
The application could prove to be equally helpful for friends and family. Facebook users are able to transfer, receive and request money from other Facebook users via "Buxter" free of charge. And for a small fee of 1.9% (min. 2 EUR or 3 USD) they can withdraw their money from their ClickandBuy account.
The application will initially be available in Euros and US Dollars and can be found here: apps.facebook.com/mybuxter
However, the biggest advancement appears to be Facebook's transition from a successful social network to an e-commerce-marketplace, that is not contained in a closed system. "Buxter" is designed to encourage third party developers by giving them access to the "Buxter"-Facebook-API. This way, third party developers are able to create individual business solutions within Facebook and then receive payments through "Buxter".
What services come to mind? From movie tickets to lunch box - you name it. But more importantly, it's the implementation of an app that serves the community spirit of Facebook. Users may want to integrate this app into their own profile and from then on they can collect money from other users. Either, for an upcoming birthday party, or, even better, raise money for charity.
Christian von Hammel-Bonten, Senior VP, Head of Product Management, ClickandBuy says: "From now on, Facebook users can not only share their status and pictures, they can also share real money in a way that is fast, easy and secure."
Charles Fraenkl, CEO, ClickandBuy says: "'Buxter' is the application that will see Facebook members use the platform not just as a way to stay in touch but also as a fast, easy and secure way to exchange money or buy and sell products and services."