We’ve all seen the power of social networking to bring people together, especially around big issues, and fundraising is no exception; we’ve seen the likes of GoFundMe explode thanks to the power of the social networks, and now Facebook is introducing its own first-party fundraising tool called Personal Fundraisers.
Put simply, Personal fundraisers allow people to raise money for themselves, a friend or someone or something not on Facebook, for example a pet. Personal fundraisers will launch in the US for people aged 18 years or older, and in beta over the next few weeks.
Facebook will be watching and learning as the beta goes on, with the goal of bringing it to more people, in more places, when it’s feasible to do so. To begin with, the service will be US only as we’ve noted, and there will be six categories that people can fundraise for:
- 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
The process will be simple: users create their Personal Fundraiser, and it is subjected to a 24-hour review period to make sure that the causes raised for meet Facebook’s requirements. Over time, it’s Facebook’s goal to automate the review process in most cases, and broaden the categories that people can fundraise for.
Facebook is banking on trust to put it ahead; because people will be able to see real profiles of those both fundraising and donating, it’s hoped that people will be able to quickly build momentum, and payments will require just a few taps with Facebook’s secure payments platform.
Facebook Live pages will also receive new donate functionality as part of the new feature set released in the US today.
For more information on the new features, check out Facebook’s news item, and we’ll wait and see whether the service rolls out in Australia in the near future.
-How big is Facebook’s cut?
-Even if the FB cut is nothing, how can we trust FB and it’s alogaritm to be the arbiter of what is and what isn’t a charitable cause?
-What payment platforms will be allowed to process payments?
– does Facebook have access to both the donor and fundraiser’s financial details?
-If I don’t want to give FB my financial details will I be prevented from donating?
-Will I be targeted with certain adverts and other unrelated but similarly themed fundraisers depending on which donations I have made in the past?
Facebook’s take is about 6% it’s in their source article. That covers transaction costs, risk management blah blah. Doesn’t have to be a charitable cause, just something they decide fits their criteria. Their sites their rules. I believe people can link PayPal or credit cards to their Facebook accounts, so no, I don’t believe they directly need to have financial details for the service to work. Seemingly then if you have a PayPal account you can use the service without having Facebook have your financials. God knows what they’ll do with targetted ads.
Thanks for the reply