With this, Facebook has also launched a feature called Privacy Basics - an animated guide to control what others see about you, how others can interact with you and what you see.
"Our goal is to make the information about Facebook as clear as possible. Our hope is that it will not take long for people to read through this and really get it," Erin Egan, Facebook’s chief privacy officer, was quoted as having said in a Wall Street Journal report.
The new policy includes questions like “What kinds of information do we collect?” and “How can I manage and delete information about me?”
The answers to those questions are arranged in bulleted lists.
The update also includes information on how Facebook uses payment data, noting that the company collects information on each purchase, as well as credit card data, account authentication information, billing, shipping, and contact information, the report added.
The comments from the users are invited for a week.
After reviewing these, Facebook will release a final version that will take effect from next month.