It operated a virtual goods monetization platform that allowed users to deposit funds into a central Spare Change account that they could then spend across multiple games and applications on the social network, and was a precursor to Facebook Credits.
[3][4] In March 2009, Spare Change was reported to be processing $30M of payments across 700 applications on Facebook, MySpace and Bebo and to have over 1M wallet accounts.
[5] Spare Change Payments was founded in 2007 by Mark Rose, Simon Ru and Lex Bayer, with offices in Cupertino, California.
The staff and technology at Spare Change and PlaySpan was ultimately used to build out Visa Checkout.
Like an online wallet, it only requires a username and password to check out once the user is registered.