"Facebook is launching a service that lets British users earn discounts from high street businesses. Users who visit participating shops can log in from their mobile phones to receive rewards.

Companies, meanwhile can use Facebook Deals as a virtual loyalty card or coupon system. The social network has already lined up promotions with several businesses including Starbucks, Debenhams and mobile network O2.

The service ties into Facebook Places, an add-on for mobile phones that launched in 2010 as a way for users to share their location with friends."

Source: BBC

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