Using PayPal? Thinking to switch over Google Checkout? How about paying with world’s favorite social network? Well, not yet but it could be possible soon. Facebook has launched yet another exciting feature that will not only prove to be a great source of revenue for the company but will also be useful feature for its massive user base.

Initially, the app GroupCard has got the honor to get the “Pay with Facebook” feature integrated into it where users can use the feature to purchase any of the premium items listed therein for amount between $3 to $25. When users click the “Pay with Facebook” button, a new popup appears showing the total price in Facebook credits and offering Facebook credit purchase options. Facebook bills the credits to a credit card you have on file, or you can enter a new credit card in the popup window.

Now that Facebook is starting to roll out its virtual currency payment service to platform applications, demand for Facebook credits should increase dramatically – which would mean substantial revenue increases for Facebook. With the Facebook Platform economy estimated to be potentially as high as $500 million in total transaction values this year, Facebook could potentially add several million dollars to the bottom line simply by capturing a small piece of the overall market.