Facebook is getting rid of its in-app credits currency and moving to an in-app subscriptions based model beginning in July.

In a blog post on the social network Facebook’s Prashant Fuloria explained that payments will now support local currencies of the user. He writes: “Since we introduced Credits in 2009, most games on Facebook have implemented their own virtual currencies, reducing the need for a platform-wide virtual currency. As a result, we are updating our payments product to support pricing in local currency (ex: US dollar, British pound and Japanese yen) instead of Credits.”

Facebook will convert existing credits into” the equivalent amount of value in users’ local currency existing credits.” KIXEYE and Zynga are already testing the subscriptions model.