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Facebook as a Financial Platform?

There are big changes going on at facebook that will reshape the ways nonprofits will be able to use and leverage the platform.  The biggest of these changes is the launch of some “gift” tools for your social network. These changes seem little at first “who cares if you can buy a song for a friend” but anyone that watched ITunes, Skype, Amazon and online donations scale up realizes that getting people to cough up credit card for credits is the biggest hurdle in ultimately freeing people from money.

The more that facebook users get used to buying little bits of things online, using their credits, and making transactions online the easier it will be to help them convert facebook relationships into channels for sending money to your charity and campaign.

I expect online donations to charities and groups with “pages” will grow proportionally with the amount of total exchanges on facebook. So seeing them add features like the new “buy a song” for a friend will be a big boost to those of us that look to facebook as a space for organizing relationships with people that use if like the way traditional users focused on their inbox.

While you can currently purchase gifts from non-profits, like Kiva, Project Red, TOMS Shoes, Charity Water and the World Wildlife Fund, Facebook is now also including gifts via the Causes application. So you can make donations to a cause as a gift for your friends for pretty much any cause supported through the app.

Facebook’s Gift Shop Sings A New Tune

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