Send Money with Paypal and Facebook
PayPal has become pally with Facebook recently and you can now send money to people right from your Facebook site. All you need is your e-mail address and PayPal takes care of all the rest. Here is the link to the PayPal page within Facebook where you can get started.
It seems that Facebook is starting to get quite serious about its monetization. You can of course interact with Facebook financially right now, as you buy advertising space through their credit card portal, for example. They have been rumored for some time to have been looking at a “Facebook payments” program and it is only a matter of time before we start to see highly targeted and personalized advertisements appear on our Facebook homepages.
PayPal Send Money has a fan page on Facebook. This takes their level of customer service to another degree, as you can post your questions and concerns on the wall and receive a timely response from a PayPal employee. More and more people will be introduced to PayPal this way and they now allow money to be transferred to a total of 65 different countries around the world in 17 different currencies.
This development comes amid a rumor mill of Facebook versus PayPal stories circulating the web. When Facebook allowed some of its users to buy virtual and physical gifts through its new “gift shop,” this was seen as a direct shot against PayPal, still a leader in Internet based sales. The rumors were further fueled when Facebook hired Prashant Fuloria, one of the key designers of the Google Checkout platform, and other would-be PayPal competitors. Indeed, the biggest news appear to be that for the first time tangible gifts could be purchased through Facebook’s initiative, rather than just virtual gifts. Four developers were participating in the gift shop tests, including American Greetings Interactive, Greetbeatz, Somecards and Real Gifts, the latter providing physical gifts of candy or flowers.
The so called “alpha” test of the Facebook gift shop was said to be, by a Facebook spokesperson, simply a test “to explore possible new ways for users to share with their friends around birthdays and special occasions.” This latest news would appear to point toward a collaboration between PayPal and Facebook, rather than a direct competition. What was once termed to be a “PayPal killer” could in fact turn into a lucrative association for all parties. With 300 million monthly active users, Facebook could be poised to make significant income from a “Facebook payments” program. Meanwhile, Google Checkout remains curiously subdued in the background…
Matthew Toren
Wow this is pretty exciting stuff - can’t wait to see how it plays out
Combining Facebook and PayPal is a good idea. Now all services that are not free will become easier to use.
Wow, that’s interesting! Can’t wait to see how it works out. Thanks for sharing!
How does Facebook benefit from this partnership? Do they receive a percentage of the transaction?
Yes it is quite interesting. I’m sure many of us are crossing our fingers hoping that this develops into some competition for paypal. For too long, paypal has had a monopoly on online payments. As a result they got away with charging ridiculous fees and not treating customers properly.
It is the beggining of consolidation of the big dogs in my opinion. It is only a matter of time nefore some of these companies become one.
Facebook will use paypal policy in mone transfer. There is a large majority of paupal customers who are not happy with their service. It will bring nothing good for facebook. They should build their own system.
That’s what I like about facebook. It lets you connect Twitter, Tumblr, etc, etc. and now, Paypal. Everything is like… done electronically which I think is better. Life is getting better. Thanks to these new trends. ^^
It is a new development and good for the user. It will create a healthy competition for money handling sites.
@Suzanne, Yup more than likely they do, after all they could use anyone else if they wanted to
Till then,
Jean
Surely i smart move, because everyone can benefit from this payment implementation.
pretty exciting stuff - can’t wait to see how it plays out
This looks really interesting, it could make both parties a lot of money since paypal would take a certain % of the transaction.
It will create a healthy competition for money handling sites.
very interesting, so facebook has intergrated paypal, is that true? ok now im a fan of face book and have my business advertised on thier, is it possible to benenfit from facebook for my business?