article thumbnail

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.

article thumbnail

Social media payments: An ally or adversary of banks

ATM Marketplace

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Quibi’s Flameout Teaches Us about Behavior Change

Perficient

Making matters worse, early versions of Quibi offered no way for users to share content with friends, stymieing growth on social media. That meant it needed viewers to not only discover its brand, download its app, register and begin watching but also to subscribe at either a $5 or $8 monthly payment level.

US 294
article thumbnail

Fighting Financial Awkwardness With Faster Payments?

PYMNTS

Among the more popular players in the P2P space is Venmo, a mobile payment platform owned by PayPal. The peer-to-peer mobile payment service offers a social media element aimed at making the exchange of money more fun for both sides of the transaction. The social side of Venmo makes it less awkward,” said Vaughan.

article thumbnail

Banks Must Up Their Social Media Game to Connect with Digital Natives

Gonzobanker

Traditional financial institutions that want to compete with fintech disruptors like Chime and X (formerly known as Twitter) need to up their social media game. Consider that the typical user spends about 2.5 hours per day on social media. Demographically, half of the U.S.

article thumbnail

Trending: Meeting The Millennial Need For AI-Powered Visual Shopping

PYMNTS

These marketplaces also need to make sure that payments, however quick, remain safe and secure as fraudsters continue to hammer at the gates. Around the Payments And The Platform E conomy. An AI-Powered Visual Shopping Experience For Millennials, Gen Z. About the Payments And The Platform Economy Playbook.

article thumbnail

Bitcoin Daily: VeChain Blockchain Platform Loses $6.7M In Cyberattack; Bottle Pay Bitcoin Startup Shuts Down Amid New EU Regulations

PYMNTS

Meanwhile, Bottle Pay, the bitcoin payments startup, closed down, noting the AMLD5 European Union regulation that is taking effect early in January, Coindesk reported. The Bottle Pay app once let users send small portions of bitcoin via social media handles and texts from Twitter to Telegram.

Bitcoin 133