Facebook Personal Goes Live

Say goodbye to GoFundMe campaigns on Facebook’s newsfeed. Because now, Facebook has launched its own fundraising platform.

Sick? Raise money to cover medical procedures, treatments or injuries. House burned down? Start a “personal emergency” fundraiser. Lost a loved one? Facebook’s new tool can help you generate money to cover burial expenses or living costs.

Students can ask for help covering tuition, books or classroom supplies; dog moms and dads can seek assistance with vet bills or large groups of unconnected strangers can come together to raise funds after major public crises or natural disasters.

Personal Fundraisers kicks off with these six major categories — education, medical, pet medical, crisis relief, personal emergency and funeral and loss — after testing them in beta starting in March, as well as two new categories: sports (to help with equipment costs or team fees) and community (to support neighborhood services and community or environmental improvements).

Facebook users who use the feature can choose to raise money for themselves, a friend or someone or something not on Facebook. They can then give the fundraiser a compelling title and story before sharing it out to their network. Users must be 18 years or older to access the feature.

“We’ve been inspired by the response to create [Personal Fundraisers] and the support felt by those they benefit,” said Facebook Vice President of Social Good Naomi Gleit.

“People can create a fundraiser to quickly raise money on Facebook and easily reach their friends in a few taps,” Gleit said. “People can learn about the person who created the fundraiser and the person benefiting from the fundraiser, as well as see which friends have donated.”

Like many of the social media giant’s recent moves, such as the introduction of its “Order Food” button, the feature gives users one less reason to leave the Facebook platform. That’s key for revenue, since Facebook makes its money from advertisers, and users are more likely to click on more ads the more time they spend on the app or desktop site.



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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