UPDATE: See below for SOE’s comment.

I hadn’t really considered PlanetSide 2‘s payment model. I just assumed it would be the same as PlanetSide. For I am a fool. Speaking to the efficiently named Chinese site 17173.COM, translated somewhat on the equally perfunctory title MMO Site, SOE president John Smedley gave a few hints about how it’s all going to work. And inevitably, it’s some form of Free To Play. But what form?

UPDATED COMMENT FROM SOE’S Mr SMEDLEY:

1) There is some really bad translation going on here – while I have publicly mentioned the game will be some form of free to play before…the Blizzard style auction house isn’t a part of that. I was asked what I thought of that move by Blizzard I said I thought it was a good idea and it would help with farmers. I also said we had done that years ago with Station Exchange. So no…. There is no RMT auction house (in fact we haven’t ever even talked about an auction house for the game period). We aren’t ready to announce specifics yet but expect something that will be very player friendly. I mentioned League of Legends as something I really liked. 2) I was asked about beta schedule and I said we were aiming for late this year or early next year but we don’t know yet. 3) I did say that I believe SWTOR will be the last large scale MMO to use a sub model. The game looks great btw and I will be playing myself. Bioware is doing an awesome job.

Well, that’s yet to be determined. The game itself will be free, but it seems they may be trying to avoid a microtransaction model. However, quite what was said is getting confused in translation, despite the best efforts of the sterling folks at Planetside Universe. However, it’s clear that Smedley believes The Old Republic will be the last MMO to usefully use a subscription model.

Also gleaned is the knowledge that the game should go into beta toward the end of this year, for release early in 2012.

If any Chinese readers want to give it a better translate for us, please get in touch. Because I’m dependent on Google’s translate, which offers wonderful poetry like,

“That FPS games “Star OL”, of almost all the players played their classic Bong. Unfortunately, issues such as charging method, which ended early in the operation of the national dress, has become a dusty memory in years to come.”

Big thanks to PSU for the tip.