Facebook Posts New Payment Terms

Update: ThePayments Terms to better explain how financial transactions will take place. The terms were created as a means to govern purchases made through the site.

Facebook is using the voting the commenting process it used when it recently updated the Facebook Principles and Statement of Rights and Responsibilities documents. This time, users have three days to voice their comments (another example of where conversation adds value).

The new Payments Terms page will replace the existing announced that the majority of gifts will now require only 10 credits to purchase, rather than 100. However, this only affects the way credits are calculated. Users still have to pay the same amount to buy gifts as before.

Facebook Site Governance Page. Documents are available in English, Spanish, French, Italian, and German. Commenting closes at 1pm PDT on Saturday, May 30. Users who wish to stay updated on proposed changes can become a fan of the Site Governance Page.