Social Media: The New Way to Pay

What’s the first thing you do in the morning and the last thing you do before going to sleep? If you’re like 80% of Americans the answer to that question is that you check your phone. In fact the time that people are on their phones adds up to about 18 hours a day, 11 hours of which are spent on different social media sites. These shocking statistics makes it a no-brainer why most companies are switching to social media sites like Twitter and Facebook to market their business. Certain companies, however, are going above and beyond the normal marketing strategies and giving customers the opportunity to actually purchase items from their stores using social media.

Amazon has started an initiative that allows you to to put items in your cart without ever leaving your twitter feed. The idea behind this is that you can “add it now” and “buy it later” by using #AmazonCart in a tweet with a link to Amazon. When you use the hashtag the item will automatically show up in your cart and is there for you to buy the next time you’re on the website. By adapting this idea Amazon is taking full advantage of the time consumers spend on their phones.

KLM Airlines
KLM Royal Dutch Airlines has developed a method of payment that allows customers to pay through Facebook and Twitter. How it works is a link will be sent to the customer in a private message, and the customer can then select their method of payment and complete the transaction. Since adapting this form of payment KLM Airlines has become “the airline with the most fans in the world.”

Snapchat is getting ready to handle mobile payments. Exactly how this will be done has not been finalized yet, but this could turn into a great new advancement of technology. Speculation amongst the tech world has people thinking that it will be used to give consumers an option to purchase goods and services in the app.

Payment flexibility is becoming more popular as consumers are getting used to having things made easier and more efficient for them. Revel Systems is on board with payment flexibility as they offer new ways to pay on the POS system, such as Bitcoin, PayPal™, and gift cards. New and innovative ways to pay are going to keep popping up as technology continues to get more advances. It’s time to jump on board now with some of these great payment ideas!