Science

Instagram launches new payments platform for making purchases directly in the app

Instagram launches new payments platform for making purchases directly in the app”

Instagram users can now shop online from their social media account directly without leaving the social networking site.

According to a new report from TechCrunch, Instagram quietly launched a new in-app payment feature for some users.

Early usage is for reservation apps like dinner-app Resy, while Instagram say in the future it can enable direct payments for things like movie payments - and in any case allow for easier impulse buying if "shoppable tags" are included in posts. This is part of Instagram's effort to deepen the relationship between users and businesses.

However, the payment settings are now visible for limited users in the U.S.

More news: Walmart moves a step closer to Flipkart deal

TechCrunch first reported this feature and found that the feature is still in test and only selected number of users can see it for now.

The feature prompts users to register a debit or credit card to their profile, add a security pin, and begin making purchases within the Instagram application. If they can get higher conversion rates because people don't quit in the middle of checkout as the fill in their payment info, brands might prefer to push people to buy via Instagram. Following this, Instagram has joined hands with BigCommerce and Shopify to get their clients hooked up, and expanded the feature to more countries in March. Adding the ability for companies to sell product directly within Instagram would be huge both for both businesses and Instagram alike - and it would make Instagram even harder for business to leave.

Instagram is about to become a full-fledged e-commerce platform.



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