Why social media would work as a payment platform


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Why social media would work as a payment platform

  1. 1. Why Social MediaWould Work as a Payment Platform?
  2. 2. The concept of social media commerceand social media as a primary payment platform seems laughable to many people today. Why would I use Facebook or Twitter for purchasing things when I already have cash or credit cards?
  3. 3. That’s the most common questionasked about the topic, but there areactually very good reasons as to why social media could make a great commerce platform.
  4. 4. Why Social Media Would Work as aPayment Platform? | ExistingIntegration One of the benefits of a social media payment method is that it is already integrated in our lives. The problem with so many mobile credit card systems and apps is that it is hard to have people adopt the technology.
  5. 5. Storing credit cards and paying with them through your smartphone isconfusing to people and thus harder for people to accept. But social media is already a huge part of our lives. Wetweet and update our statuses from our mobile devices almost every day and it has become the norm for us.
  6. 6. Why Social Media Would Workas a Payment Platform? |Simplicity Social media could also provide a simpler way of paying. Take a hypothetical situation. You’re out atyour favorite coffee shop and have just bought your usual morning coffee.
  7. 7. To pay for it you simply whip out yourphone while it is being brewed, tweet at the coffee shop with your item ofpurchase and payment is automatically sent to the shop from your bank account. And this isn’t some sort of future technology. Chirpify is currently testing these waters with their Twitter based payment system.
  8. 8. Why Social Media Would Workas a Payment Platform? | BetterOrganizationOne of the biggest problems with creditcards is tracking your payments. When the time comes to plan out a budgetand you want to see where your money has been going, even the best cards aren’t too accommodating with seeing all of your transactions.
  9. 9. But with social media you can look back on your purchases at any time. With Twitter you can even organize all yourpurchases through hashtags at the time of purchase. This way you can put purchases into categories of food,clothing, or even more specific such asmorning coffee, weekly movie, or things of that nature.
  10. 10. Social media payment isn’t going tohappen overnight, but with the benefits it can provide and the successes ofstartups like Chirpify it is no longer justsome laughable thought to be ignored.