Social payment is most probably the future of all monetary transactions as we spend an awful amount of time on social medias interacting with friends and keeping up on the latest news (or gossips). We share moments, create memories and keep in touch with friends abroad through the social networks. And it is in those shared moments and intimacy that social payments make its entry, creating an environment where friends can share gifts, transfer money and split bills by the simple click of a button.
Social payment makes life simpler
Social payment makes life easier for sharing and splitting expenses. Be it sending or receiving money, it is the smart association of social media features combined with monetary transactions. Armed only with a smartphone, you can share ticket costs with friends, transfer money to their bank accounts and make online payments, all through a social media app. And the best example of this is Moneymail.me, one of the first chatting apps to offer chatting features with monetary exchanges.
Social payment has changed the way we communicate
Since the advent of the internet in the early 1990’s, e-commerce activities have drastically increased. It changed the way people communicate and trade with one another, and opened this vast web of possibilities for businesses to reach potential customers. Consequently, when the first social medias started making their apparition, it was only a matter of time before brands and advertisers seized this opportunity to make business. But it was not business as usual as they had to stay within the parameters of the social medias, letting customers enjoy conversing and sharing with friends whilst making monetary transfers and payment.
It is a practical tool for consumers and businesses
Social payment is a useful tool for both buyers and sellers. On top of being simple, it increases the connection and interaction of consumers with their favorite brands. More importantly for businesses, users of a specific app or those who prefers a particular brand will definitely share with friends and/or relatives. And it is this constant, almost systematic, sharing on social media platforms that most of the time increases brand visibility and drives sales.
The technological revolution is affecting digital payments
With the growing omnipresence of smartphones and the internet around the world, more and more people are becoming interested in social payment methods. In fact, many banking institutions are associating with private companies to facilitate payment services by proposing modern solutions. For example, innovative apps like Moneymailme offers users a combination of chatting and the possibility of transferring money to friends in a fast and secure way. They offer immediate money transfer with a simple tap on their smartphones.
Social payment is shaping the way consumers transact
This simple and yet fast payment method is affecting the way we deal with each other on a daily basis. In urgent situations, you can send or ask money from your loved ones through chatting apps. It can be really helpful when shopping for groceries, clothes or any other item that is valuable to you and your friends. In fact, this new way of transacting helps friends share their shopping experiences with one another, especially if you both have the same social payment app.
Digital payment apps can satisfy the most demanding customer expectations
These modern social payment apps can satisfy almost all your requirements. On top of being a chatting app, it offers instantaneous payment solution to shoppers. With a quick scan of the QR code, you can buy a wide variety of products ranging from electronic devices, shoes to coffee. You can even transfer money to your friend’s account to cover half of lunch or any kind of expenses you want to share with your partner immediately.
Social payments can boost consumption
Indeed, with all the customer’s transaction-data available, sellers can find ways of increasing sales by offering discounts and coupons to clients. It can be a win-win situation, benefiting both consumers and producers. In a way, it can be viewed as a healthy and cost-effective method of driving sales and satisfying customers.
It gives people a chance to contribute to charity
Social payments can make a difference in other people’s lives. You can contribute to charitable causes by a simple click of the button. Moneymailme makes it possible for users to help those in need around the world. They have partnered with GlobalGiving, a charitable organization that helps connect donors around the world for building sustainable projects, to facilitate the process of transferring the money you are donating, to the people who need it.
Social payments have become more secure
Social payments are safer and more secure than most people think. Not only is it less risky, but online transactions are becoming more and more popular. Thanks to the modernization of digital technology, the cyber-security landscape has changed for the better. Most social payment apps have properly secure channels for monetary transactions with stronger authentication protocols. You can conduct payments and transfer money in a hassle-free, knowing that it is safe and fully secure.