Instagram quietly launches its own payments inside the social network
Source:
Get ready to shop in Instagram. The social network has quietly added native function payments in your app for some users. It allows you to register a debit or credit card in the profile, configure the security PIN, and then start buying things right in the "inst". No need to go to the website and to enter your payment information whenever you want to buy something, can make Instagram a major player in e-Commerce.
According to TechCrunch, the native payments for booking of places, such as restaurants or salons, are already working for a limited set of partners. One of the first was the application for reservation of a dinner Resy. Some pages in the native Instagram offer payment for the order. In the future Instagram will allow you to buy even movie tickets right from the app.
The Update rolls out gradually to people in the US (in Europe is still limited). Payments in Instagram are acting within the rules of Facebook payments. Thanks to the beautiful pictures and pile of brands shopping in Instagram can become popular and give businesses a compelling reason to advertise in the app. If the social network will be able to get high levels of conversion (that is, if people won't leave in the middle of a purchase while filling payment information), brands can actively encourage people to shopping Instagram.
Facebook started native in-Commerce in 2013, and eventually launched a peer-to-peer payments in Messenger. However, native payments have not yet emerged from the stage of closed beta. It is not clear, will peer-to-peer payments in Instagram, but the ability to link a credit or debit card should be an essential for this function.
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