Yes, there’s now another way for businesses to rely on the evolving social giant we know as Facebook. Yesterday they released their “Facebook Cards” as seen below. Rolling out gradually to US users, Facebook claims its “Facebook Card” is “a new type of gift card.” The card, which is built into the Facebook Gifts product, counts Jamba Juice, Olive Garden, Sephora and Target as launch partners.
This single, reusable card works across different merchants, but holds separate balances for each one. For example, Facebook has shared that on one single card “you might have gift balances of $100 at Sephora, $75 at Target, $50 at Olive Garden, and $8.25 at Jamba Juice.” In other words, Facebook wants to replace traditional gift cards altogether with its own product (users willing), and if companies as large as Target accept this, the odds are that countless others will as well.
Why I’m Curious: Though it may seem trivial at first, the Facebook Card may prove to be a major development. Facebook appears to be inching towards establishing its own currency — it’s not a stretch to suggest that, as users get accustomed to paying with Facebook, a growing number of stores will eventually embrace Facebook’s system. Facebook has found yet another way for businesses to dependent on it, which is the type of relationship Facebook, and its investors, love to see.