Facebook launched a new monetization tool for small businesses, creators, educators, and media publishers to earn money via paid online events on the Facebook platform.
Facebook Page owners now are able to create an online event, and set prices, promote the event, collect payments, and host the event, all in one place.
Facebook will support small businesses and creators, it will not collect any fees from paid online events for at least the next year. “For transactions on the web, and on Android in countries where we have rolled out Facebook Pay, small businesses will keep 100% of the revenue they generate from paid online events.”
Facebook Page in 20 countries around the world (including India) that meet the company’s partner monetization policies can start charging for online events, making it easier for millions of people and small businesses to make money on Facebook platform. You can also check whether you qualify and get access from here.
Facebook asked Apple to reduce its 30% App Store tax or allow us to offer Facebook Pay so we could absorb all costs for businesses struggling during COVID-19. But unfortunately, they dismissed both their requests and SMBs will only be paid 70% of their hard-earned revenue, Facebook said in a statement.
Facebook says that “We remain committed to supporting SMBs, and we’ll keep finding ways to make it easier for them to bring their businesses online.”