Instagram rolls out in-app payments feature for commerce
Weeks after launching its "Shoppable Tags" feature, Instagram has quietly rolled-out an in-app payments feature that allows you to make payments without leaving the app. With this feature, Instagram aims to attract businesses and brands to advertise on its platform and bolster native commerce. According to reports, the feature is currently live for some users in the US and UK. Here's more.
Here's everything you should know about Instagram Payments
TechCrunch reports that the feature allows "you to register a debit or credit card as part of a profile, set up a security pin, then start buying things" within the Instagram app. If available, you can find the feature in your profile settings under "Payments Settings."
Instagram's 'Book' appointment is also live for select business partners
Announced last year, Instagram's 'Book' feature which allows users to schedule a service/appointment with local businesses is now live for select partners. Moreover, some of the partners are also offering this native payment for booking including Resy - a dinner reservation app. In the future, "you can expect direct payments for things like movie tickets through the app," TechCrunch reported citing an Instagram spokesperson.
Instagram aims to merge its in-app payments with "Shoppable Tags"
Instagram may merge this native payments feature with its "Shoppable Tags" - a feature that allows brands to tag products with pricing information within their Instagram posts. But, currently users have to complete such purchases on brand's website/e-store. However, with the merger of these two features, Instagram can make impulse buys much quicker and urge more businesses and brands to advertise on its platform.
Given the numbers, Instagram may change the way we shop
Instagram registered 25mn listed business in 2017. The company, in its last year's post, said that 800mn monthly-users were active on its platform. Instagram added that over 80 percent of its users followed a business, while 200mn of them visited a business profile every day.
Instagram's rival Snapchat isn't far behind
When it comes to changing the way people shop, Snapchat isn't far behind Instagram in helping you shop while socializing. It has recently introduced "Shoppable AR" to its platform - a feature that lets brands and businesses sell products directly through their sponsored lenses. Snapchat has also started its merchandise store called Snap Store and is testing its own native payments and check-out feature.
