Facebook Introduces Personal Fundraising Tools With Donate Buttons

GoFundMe has a new competitor and it’s probably not who you’d expect. If you thought Facebook was exclusively designed so that you can keep tabs on your college classmates, you’re wrong. The social media giant wants to make it easy for your friends to share their wealth, so they’ve expanded their fundraising tools to allow users to raise money for personal needs.

Instead of sharing a GoFundMe link on your page, a big “donate” button will be available directly on a user’s profile. They’re even planning to install a “donate” button on live broadcasts.

IMAGE SOURCE:  TECHCRUNCH

IMAGE SOURCE: TECHCRUNCH

There are some limitations about what a user can raise funds for. As of now, Facebook has determined that donations can be given for education, medical, pet medical, crisis relief, personal emergencies such as a fire or theft and costs associated with a loved one’s death. If you were hoping to raise funds for a vacation to Hawaii, you’ll have to wait…unless you can somehow spin the trip as an educational experience. Hmm!

Like GoFundMe, the recipient doesn’t receive 100% of the funds. There is a 6.9% plus $.30 fee to cover certain expenses, but the amount is 1% less than GoFundMe’s fee. If you’re wondering why you haven’t noticed this feature on your page yet, it’s because it’s still going through beta testing. It’s also only open to users from the U.S who are 18 or older.

IMAGE SOURCE:  TECHCRUNCH

IMAGE SOURCE: TECHCRUNCH

We guess this means that you should start saving your pennies. Your friends are going to be asking for them.

E'vone Starks