There are so many changes happening on Facebook, and it’s getting hard to keep track of them. Seriously, Facebook is turning into this giant whale that wants to eat all of its competitors, including platforms like GoFundMe.
The latest addition to Facebook’s impressive list of features includes the opportunity to fund a project or cause on behalf of yourself or a friend. Touted as ‘Personal Fundraiser,’ it is expected to roll out in the US in the following weeks – in the form of a button.
How it works? First of all, the new feature will be available to users over 18 years of age and will require the setup of a separate dedicated page which will include information about the fundraiser and the end goal. So far, Facebook will allow Personal Fundraisers for specific categories of costs:
- – Education: such as tuition, books or classroom supplies
- – Medical: such as medical procedures, treatments or injuries
- – Pet Medical: such as veterinary procedures, treatments or injuries
- – Crisis Relief: such as public crises or natural disasters
- – Personal Emergency: such as a house fire, theft or car accident
- – Funeral and Loss: such as burial expenses or living costs after losing a loved one
Payments will be securely handled without the need for the users to leave Facebook, with a 6.9% + $.30 fee that will go to payment processing, fundraiser vetting, security, and fraud protection.
The good news continues for Verified Pages as well, as they will be able to add the donate button on their live video broadcasts.
See more details on the exciting new feature in the following video.
More from Facebook
While many are not convinced about Facebook entering the world of financial services, one bank might have one good reason …
Facebook has officially unveiled Libra, a new cryptocurrency. Like with everything it does, Facebook has big plans for Libra.