Facebook Debuts Gift Cards at Target
Facebook announced on Wednesday that it’s trying its hand at the prepaid gift card trend.
The social networking site will begin selling gift cards at Target locations and Target.com starting September 5 that can be redeemed for the purchase of virtual goods through popular Facebook games, such as FarmVille and Bejeweled Blitz.
Although Target already sells gift cards for various online games, including FarmVille, this marks the first time Facebook will have a presence in a retail location.
The "credits cards" will be available for $15, $25 and $50.
Of the 500 million total users on Facebook, more than 200 million currently play free social games on the site – and many of them spend money on virtual goods and services through those games. The company aims to reach out to this segment of users and expects the cards to be a hot seller over the holidays.
Facebook plans to roll out the initiative to several more retailers in the next few months.