Facebook Causes Confusion With Gift Card and 4 Social Media Stocks Seeing Action
Facebook, Inc. (NASDAQ:FB): Current Price: $30.23
Facebook has rolled out ”The Facebook Card,” which is a complicated gift card that users are able to send to friends through Facebook’s online store, Facebook Gifts. Facebook doesn’t find the concept difficult as the social network gets earns a good chunk of change when selling its own gift card through its own online store, but consumers find the Facebook card confusing. The Facebook Card is purchased in the Facebook Gift shop, but users are unable to use the card in that same gift shop, so the gift recipient gets a card that says “Facebook” that isn’t able to be spent on Facebook. The card can be used at various retailers, similarly to a pre-paid Visa card, but unlike a pre-paid Visa, users have to specify when loading the card the amount of money that is allocated to each retailer. The card must be managed through an app, but the app can’t be used as a payment system.