socialmedian: Facecard: Forget the JPEGS, Give Cash in Facebook

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Facecard: Forget the JPEGS, Give Cash in Facebook

Source: readwriteweb

Oct 01, 2009

Summary

When Facebook first welcomed 3rd party applications, Lending Club caused a stir with its peer-to-peer money exchange. While others like Prosper had paved the way for small online loans, only Lending Club dared to integrate its services into a social network. Today, Facecard aims to improve upon the model by expanding its pre-paid MasterCard service. As of tomorrow, the company will officially emerge from beta with a slew of new features including parental controls, alerts and most importantly, this Facebook application.

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In the past, parents have loaded Facecards with cash via their computers or mobile phones and used them to monitor their teen's spending with a web-based dashboard. Because the Facecard is pre-paid, it has an advantage over regular cards. There is no risk of overdraft or lapsed payments. For those who'd like to give gifts or lend money to friends, the service also allows you to send money directly to other Facecard members.

As of today, after linking your Facecard to the new Facebook application, you can give money in three additional

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