Facebook Updates Payment Terms In Preparation For Payment Platform Launch

Rather than updating its payment terms without notice to users, Facebook has decided to post its payment terms to the Facbeook Governance page and is open for user feedback for the next 3 days. As Joe Sullivan, Facebook’s lead counsel for product posted today, “The new payments terms will replace the existing Terms of Sale and the payments-related sections of the Online Advertising Terms and Conditions.”

While the payment terms are not as controversial of an issue currently for Facebook, the company has learned its lesson for swapping out the terms for users.