Facebook Wants Your Credit Card Information

After the re-launch of Gifts, Facebook seems extra motivated to get your credit card information and physical address, in what could be another attempt to gather more data about you and sell more targeted ads.

The social network recently launched its Gift service after shutting it down in 2010 for lack of traction. The re-launch is seen as a way to appease investors, generate a new revenue stream and, of course, keep harvesting data.

“Gifts should also contribute more to Facebook’s treasure trove of user data, which has the benefit of a virtuous cycle, driving more personalization of the site, leading to better and more targeted ads, which improves overall monetization,” Colin Sebastian, an analyst with Robert W. Baird, told the New York Times.

The service allows users to easily buy gifts for their friends directly on Facebook. On a friend’s birthday or special occasion, a gift tab will appear on your timeline, allowing you to access a varied list of items to buy your friend.

Mashable.com