Facebook has augmented its online fundraising category to another level by introducing a new set of tools which provides immense support to online fundraisers. The fundraising option will first initiate in U.S and it will enable users to raise funds for multiple purposes; especially for necessary expenses such as school or medical expenses, emergency situations, funerals etc. Furthermore, another breakthrough feature has been included for Facebook Pages which is the added button of “Donate”. It allows users to donate their money during live broadcasts through Facebook.
The feature, announced this week, has been an extension of Facebook’s previous attempts to cater this category. During 2015, the company launched a feature for non-profit organizations as they could set a separate page for their campaigns. They were allowed to highlight their goals, and eventually receive money from users. Additionally, during 2016, the company opened fundraising features for individuals who could collect cash on behalf of non-profit organizations.
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Fundraising categories on Facebook
During the last few years, social activities on Facebook have taken a quantum leap and these online campaigns have been very popular among masses. Therefore, it was a logical step by Facebook to initiate a separate tool to cater to this rising demand.
Talking about the categories of personal fundraising, currently Facebook has launched six types of categories including:
- Education (tuition, books or classroom supplies);
- Medical (procedures, treatments, injuries);
- Pet medical;
- Crisis relief (public crises or natural disasters);
- Personal emergencies (house fires, theft, car accidents); and
- Funeral and loss (burial expenses, living costs).
The categories are currently restricted at six for the launch phase.
However, the company expects to increase this list after some time when it automates the review process. Facebook has taken the review process seriously as it has a 24-hour proactive review process that guarantees that fundraisers meet all the required policies and standards.
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The criteria and payment processing fee
The personal fund raisers are only restricted to the individuals of U.S above the age of 18 and the availability will be in beta format.
According to Facebook, the platform will be charging with 6.9% + $.30 fee that will go under the head of “payment processing fees, fundraiser vetting, security and fraud protection”. However, there is a different payment structure for non-profit organizations. Comparing this fee with GoFundMe, users are still better off as this entity charges 7.9% + $.30 under its personal and charity campaigns.
Using a similar working model, users visiting personal pages have the option to share the campaign and invite their friends to follow suit.
The donate button
The big blue donate button given on personal pages could be clicked by users to donate money during their site usage. These options make it convenient for users and increases the likelihood of more donation and encourages users for financial transactions on Facebook. Although the company has initiated a few measures like peer-to-peer payments within messenger earlier but Facebook still needs to explore this area further.
The donate button is not only restricted to personal fundraisers, Facebook pages can now include this button during their live video broadcasts. It will facilitate famous personalities, brands and businesses to involve themselves in fundraising activities. Eventually, the viewers watching these live videos could donate while watching live telecast or could press the button soon after the video ends.