Facebook has just launched a new commercial product which they call as Facebook Card which is a physical card that you can give to your friends. This is actually an extension to their Gifts service which allows people to buy presents to their friends.
Basically, Facebook Card is a reusable gift card that can be reloaded with money which can be spent at multiple retail stores. As of now there are four retail stores which you can use this card at with more stores to be added soon. The stores currently available are Jamba Juice, Olive Garden, Sephora, and Target.
Here’s how the card works. First you select a gift you would want to give to your friends from the Gift Cards & Digital and choose a value. Once the order has been processed your friend will be receiving a notification about the gift and will also be receiving the Facebook Card in his or her mail. You can split the value in the card to be spent at various retailers. You can assign $50 to be spent at Jamba Juice and $50 to be spent at Olive Garden. The next time you receive a Facebook Card gift the amount will be added to your existing card.
According to the company blog post “Facebook Cards are reusable. After you’ve received a card, the next time you get a Facebook Card gift, it will instantly be added to your existing card. Your card can hold multiple gift balances, and each balance is dedicated to the retailer associated with the gift”
We are not sure why the company didn’t just let the card hold a single value which you can spend any way you want in any retailer.
This isn’t the frist time that the company has expanded into the physical world as they have previously released their own cards loaded with virtual currency which could be spent on games and apps on their site.
This new program is being rolled out gradually and is only available in the US. There is still no information if the company will make this available for the rest of the world.