Facebook to allow creators to take payments directly

Anne Freer | November 8, 2021

App Business

Facebook aka Meta recently said it would add a way for creators to accept payments directly through the platform.

The move is a direct stab at Apple which usually takes a 30% cut.

Zuckerberg said in a Facebook post:

“As we build for the metaverse, we’re focused on unlocking opportunities for creators to make money from their work. The 30% fees that Apple takes on transactions make it harder to do that, so we’re updating our Subscriptions product so now creators can earn more.”

What exactly that means is that Facebook will add promotional links for creators for their Subscriptions offerings. So that when people subscribe the creators keep the money they earned.

In addition, creators will be able to download information about their subscribers such as email addresses.

And lastly, Facebook also said it would launch a bonus program to pay creators between $5 to $20 for each new subscriber as part of a whopping $1 billion investment.

The additions may be welcome news among its community looking for more opportunities to monetise their content.

However, to join, creators or Pages need at least 10,000 followers.

Facebook will not collect any fees on such payments until 2023 compared to Apple which is charing a 30% fee on paid apps and in-app subscriptions.

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