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Facebook Gift Card: An Update on the New Facebook Gift Card – How does this Thing Work?

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Facebook Gift Card: Yesterday, we brought you a story on the Facebook Inc (NASDAQ:FB) gift card feature. While this feature is sure to draw a lot of attention, there are many people out there wondering how it will work. There are many people wondering if it has enough “oomph” to catch on and do big things for the largest social networking company in the world.

Mark ZuckerbergIf you don’t think Facebook Inc (NASDAQ:FB)’s gift card could be the next big thing, maybe you don’t know enough about the new feature.

Only one day old, many are beginning to realize how cool it can be to give out gift cards to some of the top stores and restaurants in the world including but not limited to Target, Olive Garden, and Sephora – among many others.

FOX News shared some information on the basic background:

“Unlike a Visa gift card that can be used anywhere the card is accepted, balances for each retailer remain separate on the Facebook Card, meaning you can’t use your Jamba Juice balance for a lipstick at Sephora, but you only have to carry the single gift card.”

“The card is an extension of Facebook Gifts, a service it rolled out several months ago, that lets users choose from Facebook’s gift catalog and send a real gift to a friend without having to know the friend’s mailing address. (Recipients provide their address to Facebook when they get a gift notification.)”

With this new program, the recipient will receive a Facebook Inc (NASDAQ:FB) gift card via mail with the appropriate amount of money added by the sender.

Here is a follow-up from the same FOX News piece:

“The four retailers participating in the unified gift program were all part of Facebook’s existing Gifts service. Notably, Gifts participants Starbucks and iTunes are not yet included, and Facebook is not saying if and when they will be or what other partners may join.”

Now that you have some background information on what the Facebook Inc (NASDAQ:FB) gift card is all about, it is time to understand how it works.

Here is the perfect tutorial, courtesy once again of FOX News:

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