Updated!
It seems that Facebook is going to add (or have added) a new function on its mobile app (specifically on iPhone Facebook App at this moment) call Places.
From TechCrunch,
In the introductory video that Facebook showed off to kick off the event, they showed a bit of the app. It looks like its integration is seamless. There will be a new Places icon in the very middle of the app. Just as with Foursquare, Gowalla, Loopt and the rest, you’ll be able to check-in to any venue you’re at. Or if the venue isn’t in the system, you can add it.
It seems that Facebook has also learned the lesson on Privacy. There will be some privacy information and agreement to use the app.
Anyone already using it?
Update 1
Apparently, Facebook has been dabbling with this feature for 8 months and they are working with partners like Foursquare and Gowalla.
Click Here to Read from TechCrunch
Update 2
Finally got the upgrade to version 3.2 on iPod Touch but Places not supported in Singapore
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(source)