Facebook Takes “Snapchat” Features, And Is Now Adding “Go Fund Me” Features
Posted: 6:19 am Friday, March 31st, 2017
Seems as though Facebook is making quite a bit of changes lately to their app and social media platform… the other day they updated the app and it had a whole bunch of features similar to snapchat, with the “stories”. Now they are getting into the fundraising game, similar to Go Fund Me.
Announced by the company Thursday, Facebook isn’t going to allow anyone to ask for any kind of money. No free for all’s here. As of right now, personal fundraisers are limited to medical expenses, pet costs, education, personal emergency, funeral, and crisis relief. Donating is as simple as clicking a few buttons, and, uh, giving Facebook your credit card information, which may throw people off a bit considering its privacy record. The idea behind this new form of personal fundraiser is that by being able to look at Facebook profiles, you’ll be able to verify that you’re giving money to a human being, not an Estonian scammer (although you’ll still have to trust that donation will be put to good use). Pages will be able to set up fundraisers as well.
If you’re wondering what Facebooks cut will be (cause obviously this is a business move), every fundraiser has 3% skimmed off the top to cover payment processing and another 2% taken for “nonprofit vetting, fraud protection, and payment support.” That’s about in line with what GoFundMe collects, and also in step with what other payment companies charge charities and non-governmental groups to run cards. Although to be fair, Facebook has a market cap of $400 billion as we write this, so maybe sacrifice a pool table for the puppies, guys.