Meta intends to further its eCommerce goals with the introduction of payments between customers and businesses through Messenger conversations. With the new method, businesses may request payment inside a message thread, and customers can transfer cash immediately away, streamlining the purchase process. “If you like a bag, simply notify the business,” says Meta. You may talk about changes like adding your initials and then putting your order there. The same chat thread may be used to monitor your purchase and submit follow-up questions.
Since 2017, it has been comparable to payments made between friends on Messenger. Now that companies can access the same potential, there may be a bigger problem than it first seems. To include in-stream business, Meta has experimented with buy buttons, live-stream payments, its own cryptocurrency, and other methods. With billions of users texting businesses each week in its apps, Meta believes it has a lot of promise if it can perfect its payment options.
This new test is significant. It doesn’t need a significant technological leap and is similar to money transfers between networks (brands using Instagram Shops can already facilitate payments). Making it possible for more merchants to accept payments on Instagram is a big step toward increasing their reliance on the service. Additionally, Meta is developing comparable payment features for WhatsApp, which might expand in-stream business opportunities in developing areas. In order to manage your digital identity and transactions more securely in the future, it is also developing a new “wallet for the metaverse.” If Meta can master these concepts, it may make it easy for users to go from being inspired to making a purchase within its apps, converting its visual feeds into a virtual shopping centre that would be advantageous to many SMBs. There are various functional and regulatory barriers to Meta. It will advance further the more certain its payment systems become via gradual integration. Now US-based SMBs without Instagram Shops are able to receive messages.
