Today Facebook has a strong fan following and billions of active users confirm the fact that this social network forum stays for years to come. I have friends to connect with, share the photos and videos I want to or just a simple thought. Then there are a number of cool, cooler (and some not so cool) applications to add on to the charm. I was amazed to know that ‘Farmville’ – an application on Facebook has recently crossed 80 million active users. Now that figure in itself is a success story for facebook.

Talking about the applications we use on facebook, Buxter is an application launched this week, created by ClickandBuy, an online payment company. The developers believe that the application will become popular among the social networking site’s users as a quick way of settling up for dinner bills, nights out or paying for their share of a gift.

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 or services,” said Charles Fraenkl, chief executive of ClickandBuy.

The service currently only handles transactions in US dollars and Euros, but there will be support for Sterling payments by the end of the month.

ClickandBuy has around 13 million global users, and Facebook members wishing to sign up to Buxter will need a ClickandBuy account. Facebook users can make and receive Buxter payments for free across the social-networking site, but will be charged a minimum of around £2 to transfer money to another source.

My question: Are the users ready to use the service to exchange money? Will this application survive an uphill struggle?

An usual contender to this application will be facebook itself. The facebook credits are a safe way to transact virtually, to buy items in games like Farmville or to buy virtual gifts for friends. Also with the recent partnership with Paypal this app will have no problem becoming ubiquitous. Although at a nascent stage, the facebook is very serious for its commitments with Facebook credits. A full launch is expected by April, 2010.

Another problem is I think the charge they apply to transfer money to another source.

When the banking system is getting global and online, its so easy to use the normal transfer process. Who would unnecessarily make another account for such petty transfers.

Also my concern which may be unfounded is with the fraud that may happen with users who are gullible. Somebody might trick them on virtual world and will be gone without trace.

Whether or not this application will become a hit among users is left to the users only. But in my opinion this application – Buxter is not what I want and I gives it a Thumbs Down.

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