Friendster is reported to have partnered with Smart2Pay to bring additional modes of payment to the social network’s Wallet feature. As users of Friendster may already know, the Friendster Wallet allows users to make transactions at the Friendster Gift Shop. The virtual goods economy at Friendster is said to be one of the primary cash cows to the company that has garnering increasing popularity in South East Asia.
Friendster was founded in 2002 and was one of the earliest social networks to become popular in the USA. However, with the international growth and popularity of Facebook, other social networks have increasingly come under threat and Friendster is no different. The website was purchased by Malaysian entrepreneur Ganesh Bangah for an estimated $26.4 million.
Friendster’s partnership with Smart2Pay shall make it easy for users to refill their Friendster Wallet which is expected to commensurately improve the network’s ability to make money off virtual transactions.