Facebook's payment system has processed $3 billion in transactions for developers, with 100 of its developers making over $1 million a year through Facebook.
"Over the past five years we've built a word-class payment system to help with monetization," said Deb Liu, a product management director at Facebook, in an April 30 presentation at Facebook's f8 event. "We are really, really excited about the results."
Facebook is pushing heavily into mobile, where the company now gets about 60% of its advertising revenue. Overall, Facebook earned $237 million in payments and other fee revenue in the first quarter, the company said when it reported its earnings last week.
"Just two years ago we made no money on mobile," Liu said. "We had the top app in iOS and Android and we made no money on it."
Facebook announced several initiatives at its conference to help developers and advertisers. These include a new anonymous login feature that allows consumers to use their Facebook accounts to log into an app without sharing any of their personal information with the developer; and an audience network for advertisers that helps find unintuitive pairings, such as "Game of Thrones" fans who play the kid-friendly mobile game "Cut the Rope."
Facebook recently presented at SourceMedia's 2014 Card Forum and Expo, where the social network explained how its aggregated user data helped a financial institution market launch a credit card to a market it had never targeted before.