It was only a matter of time before Facebook developed its own… currency? Yes, it’s true. Announced last Friday at the Social Good Conference, marketing and outreach director Randi Zukerberg explained how Facebook would open its new “credits” platform to four non-profit groups: Project Red, Toms Shoes, Kiva, and the World Wildlife Fund. These non-profits join the four other companies who have already started using this platform last week: American Greetings, GreetBeatz, Someecards, and Real Gifts.
The idea is to sell virtual gifts and allow users to test out socnet’s new “Pay with Facebook” virtual currency. Socnet has been testing this platform since June, and as of late July 1-800-Flowers made it possible for users to send flowers through Facebook. The main goal though, is to make is easier for these users to make purchases in turn causing vendors and Facebook to make money off of these purchases. In addition, making a payment system that is more global e-commerce friendly.
The new system will be in full effect next week.
