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Social media payments: An ally or adversary of banks

Payments Dive

As social media platforms increasingly play in the payments space, what does this portend for the banking industry?

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Don’t Send Payment Reminders with Social Media, FICO Says

Bank Innovation

Consumers still aren’t comfortable receiving notifications like late payment reminders through social media channels, a study released today by FICO found.

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Social media payments: An ally or adversary of banks

Payments Dive

Many banks have increased overall focus on user experience within their digital ecosystems and have added new functionality like peer to peer payments into their mobile apps to avoid disintermediation. However, the slow evolution puts banks increasingly at risk of disruption by their social media competitors.

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Instagram Checkout tests power of social media for mobile commerce

Payments Dive

Instagram's new in-app shopping experience with PayPal is testing how social media can influence retail shopping and payment decisions

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Top 5 Banks #Winning Social Media

Bank Innovation

EXCLUSIVE - For all the talk about appealing to millenials, not that many banks or FIs out there have figured out social media. Sure, most of them (if not all) use various social media platforms such as Twitter, Facebook, or even YouTube to promote their products and services, but it wasn’t easy to find ones […].

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Meta’s payment plays may pay off this year: report

Payments Dive

A partnership between tech giants Meta and Amazon “could represent the tipping point of transforming social media into a transaction platform,” Mizuho Securities analysts said in a report this week.

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X lands money licenses in Illinois, New Mexico

Payments Dive

The social media platform is now nearly halfway to securing the state licenses needed to fulfill owner Elon Musk’s vision of a nationwide payments app.