Will Our Love-Hate Relationship With Social Media Ever Break?

PYMNTS

consumers and social media. Data breaches, marketing so targeted and specific that it can feel creepy, lack of privacy and regrets over wasted time – people complain constantly about how social media causes or enables all of that. Social Media Views.

Social Media Lures Credit Card Giants – And Their Advertising Spend

PYMNTS

On social media – specifically, on Facebook. As noted in the DMA Response Rate Report, direct mail response rates are 9 percent to a house list, 5 percent to a prospect list and social media had a 1 percent rate.

Will Our Love-Hate Relationship with Social Media Ever Break?

PYMNTS

consumers and social media. Data breaches, marketing so targeted and specific that it can feel creepy, lack of privacy and regrets over wasted time — people complain constantly about how social media causes or enables all that. Social Media Views.

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.

Social Media Bill Would Ban Covert Data Collection

PYMNTS

Two American senators want to crack down on social media companies that they say trick underage users into giving up personal data, according to Reuters. Social media companies use data to help sell advertisements, and a potential restriction could hurt profit.

Instagram Checkout tests power of social media for mobile commerce

Mobile Payments Today

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

China’s WeChat Exposes Debtors Via Social Media

PYMNTS

The app puts the debtors under the spotlight of their social circle, and it will help the court solve the problem of enforcement,” said court spokesperson Zhang Xuan, who added that the court “wants to take advantage of pressure from society and from people who know the debtors.”.

Australia Laws Target Social Media Firms with Fines, Prison Over Streaming Content

PYMNTS

The government in Australia passed legislation that seeks to stop live streaming of violent acts across social media platforms. Australia was not the only country to consider bringing legislation into place earlier this month targeting social media.

Social media payments: An ally or adversary of banks

Mobile Payments Today

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

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. DataBank Mobile Online Payments consumer credit FICO Mobile Payments online payments payments Social Media

2016 IB Social Media Leaders

Independent Banker

Congratulations to the Top 2016 IB Social Media Leaders. Independent Banker ® magazine recognizes three community banks who have conducted creative, engaging and impactful social media campaigns. 2016 IB Social Media Leaders is sponsored by SHAZAM.

How Does Ally Handle Trolls on Its Social Media Posts?

Bank Innovation

has a specific strategy for dealing with inappropriate comments on its social media channels -- do nothing. Daily Post 2 Exclusive Online Premium Retail Social Media Ally Ally Financial marketing social bankingAlly Financial Inc.

Can CBANC Crack the Bank Social Media Riddle?

Bank Innovation

billion Facebook users (give or take a few million), it’s clear banks can’t keep their employees from social media. That opens bank systems to attacks via phishing and social engineering. But social media can also be useful for networking and tapping Read More.

Social Media As The ‘Ticket’ For Contextual Commerce

PYMNTS

Sports fans can’t get enough of their favorite players and teams: Their social media accounts oftentimes have hundreds of thousands or millions of followers. There has been much ado about Instagram and shopping in this area: Instagram, the Facebook-owned photo-sharing social network , announced news on June 12 that it is expanding shopping beyond its Feed to Instagram Stories. How does social media play in?

Report: Sephora Lookin’ Pretty On Social Media

PYMNTS

In advance of Black Friday, Sephora is lookin’ pretty in terms of social media. That’s according to Shareablee , which measures social media audiences and released its annual Black Friday Retail Brand Edition of its Social Scorecard. While the leader of those three seems to be Instagram, Sephora does seem to have a knack for connecting with its audience through social media. Retail Facebook Instagram makeup Sephora social media twitter

BBVA Launches Spanish Social Media Payment Tools

PYMNTS

Finextra reports that with around 86 percent of Spanish internet users accessing Facebook, WhatsApp, YouTube, Twitter or Instagram at least once a day, BBVA is looking to make it easier for customers to complete daily transactions without leaving their social networks. Mobile Payments News BBVA Facebook payments social media Spanish Telegram What's Hot WhatsApp

Neiman Marcus Looks To Associates For Social Media Commerce

PYMNTS

In an effort to drive sales, a luxury department store chain is connecting customers with their sales associates through personal social media accounts, The New York Post reported. The practice comes as consumers are increasingly favoring social media as a means for exposure to fashion brands and new styles. “A Retail e-commerce fashion Instagram mobile neiman marcus News shopping Snapchat social media What's Hot

Bitcoin Joins American Express and PayPal on 2017 List of Social Media Darlings

Bank Innovation

American Express is the “most-loved” financial service on social media in 2017, according to a recent report, followed by PayPal, Vanguard and bitcoin. To find out which brand was the consumer favorite, at least on social […].

Social Media Can Make Bank Customers Susceptible To Scams

PYMNTS

Unintentionally making themselves targets for scammers, customers may become vulnerable to fraud by complaining to banks on social media when systems crash. Though a person close to the bank’s investigations into the frauds said it’s hard to tell how criminals find account information, social media activity can present a problem. Security & Fraud attempted fraud fraud Fraud Investigations News social media TSB Tweeting U.K.

Banks Embrace Conservative Use of Social Media in Wake of Data Scandals

Bank Innovation

PREMIUM —Banks appear to have recoiled from the deep, detailed use of social media data in their marketing. Bank’s senior vice president of brand advertising and social media, Kelly […].

ING Enables Customers To Make Payments On Social Media

PYMNTS

ING is gearing up to overhaul social media websites , transforming them into ways to make payments. According to a press release , ING said it will transform social media sites, including WhatsApp, Facebook , Twitter and LinkedIn, into payment request channels for customers who use its mobile app. With the app, users can generate a link that can be shared on social media apps, as well as via SMS and email.

Your Bank’s Social Media Strategy Needs to Drive the Consumer Experience (and Revenue), Says Regions Bank

Bank Innovation

EXCLUSIVE—Social media strategy is a must for all areas of business in today’s world, including banks—who, fighting against entrenched perceptions of their legacy institutions, often rely on social media platforms to reach their younger customers.

Pop-Ups Getting A Boost From Social Media

PYMNTS

In an experience-based economy, having a photo on social media is sometimes more valuable than making a purchase, said Gerald Storch, CEO of retail advisory firm Storch Advisors, according to CNBC. “It’s And the photos posted on social media serve as free advertising for the pop-ups. And while pop-ups say they offer more than just the chance for a cool social media post, people are still drawn to them for the photos.

Social Media Is King For Gen Z Influence

PYMNTS

As such, it should come as no surprise that social media has had a large influence on this group of young consumers. Research from Yes Lifecycle Marketing showed an astounding 80 percent of Gen Zers are influenced by social sites when shopping. The numbers move down to 74 percent of millennials, 58 percent of Generation X and 41 percent of baby boomers whose purchases are influenced by social media.

Email, Social Media King For Retail Marketers

PYMNTS

According to research from a survey by Yes Lifecycle Marketing as quoted in eMarketer , most retail marketers are counting on email and social media to help reach their goals. The data shows a significant amount of retail marketers selecting these channels, at 68 percent for email and 54 percent for social media.

Regulators Eyeing Social Media In Europe

PYMNTS

Against the backdrop of social media controversy — remember Facebook , of course, and 87 million users’ data exposed to Cambridge Analytica — oversight is tightening in Europe. The regulatory gaze become more fully trained on social media as in Germany, intelligence official Hans Georg Maassen said last week that regulation may be needed for social media companies if the European Union finds that more transparency is needed.

New Ransomware Uses Social Media, Demands Payment in Bitcoin

Bank Innovation

A new type of ransomware is targeting users through their social media accounts, most notably through Facebook and LinkedIn, before doing what ransomware does: locking the computer and demanding payment for access–in bitcoin.

Auld Lang Syne: Remembering Social Media Milestones

Social Assurance

This song, meaning “time gone by,” has our team reflecting on some milestones that have impacted social and digital media. Though it’s now primarily used as a music and culture site, Myspace was one of the first social media networks that allowed personal profiles.

Social media becomes more of a mobile commerce tool worldwide

Mobile Payments Today

Michelle Evans, digital consumer manager for Euromonitor International, examines the impact social media platforms have on commerce, specifically in the Asia-Pacific region

Social Media is the Future of All Consumer Decisioning

CU Direct

Today, social media is an absolute extension of “self.” But with the coming of functional AI, the future of social media is truly these living breathing reflective cohorts demonstrating, communicating and identifying the deepest reaches of the individual.

When It Comes To Paid Social Media, Facebook Leads The Way

PYMNTS

Retailers continue to rely on paid search and email marketing channels, but mobile marketing and social media are continuing to increase in popularity as a way for businesses to grow their customer acquisition, according to a new study. Email marketing is the number one strategy that retailers are investing in, with 94 percent of all those surveyed saying it was part of their company’s marketing strategy, while social media was second at 92 percent.

Is Social Media Key to Hitting the Trillions for (Fin)Tech Companies?

Bank Innovation

Analyst Michael Markowski seems to think so, citing the technology giant’s recent acquisition of professional social media site LinkedIn as the boost that pushed Microsoft into the race. Could Microsoft be the first technology company to earn a one trillion market value?

Social Media Usage Increases In Q1 Despite Facebook’s Data Scandal

PYMNTS

Despite Facebook’s data scandal with Cambridge Analytica, the number of people that are using social media platforms increased by more than 100 million during the first quarter of 2018. billion people around the globe using social media. Nevertheless, many people aren’t concerned about their privacy, with millions opening new accounts on social media.

Why Hotels Are Collaborating With Social Media Influencers

PYMNTS

Hotels can struggle to keep up with these opportunities, especially if they lack a formalized process to find and manage social media influencers. Influencers don’t have to be world-famous celebrities or social media stars with millions of followers. “It’s It’s not just the people who have a large following on social media,” Gabrielle said. Retail advertising bloggers hotels Influencers Instagram News Promotion social media Swayy

Social Media Vetting Looms For Visa Applicants

PYMNTS

Add social media to the list of inputs for vetting U.S. Trump has debuted a new questionnaire for visa applicants across the globe seeking entry into the United States that considers social media and biographical information. The data is far ranging, seeking to compile passport numbers, social media identities, employment information and travel history. News Security & Fraud OMB social media vetting visa applicants What's Hot

Building Community Through Social Media

Social Assurance

Social media has provided a new platform for these interactions to take place at an accelerated rate; however, the purpose of social media sometimes becomes misguided. The true payoffs from social media come with the grind.

Email and Social Media Channels That Banks Should Be Using

Banker to Banker

We point out that it is likely your bank thinks of social media channels as a way to amplify your marketing and increase customer engagement. While all true, social media is also becoming indispensable to build a brand, socialize products, synthesize ideas and to service customers

Consumers Value Their Social Media But Put Security Onus On Companies

PYMNTS

Social media has taken on a life of its own — so much so that a new survey finds a lot of consumers value their life online at $100,000 to priceless. That may be particularly scary since Forbes reported that Mark Zuckerberg of Facebook got his social media accounts hacked for the third time in 2016. The hack of Zuckerberg should be a wakeup call to social media users that they have to be careful and not blindly accept that businesses will protect their data.

EU Creates Social Media Working Group To Observe Data Harvesting

PYMNTS

European Union privacy watchdogs are responding to the Facebook data scandal by taking a closer look at the harvesting of personal data from social media sites for economic or political purposes. “A A multi-billion dollar social media platform saying it is sorry simply is not enough,” Andrea Jelinek, chair of the group of EU data protection authorities, said in a statement, according to Reuters. This is why we are creating a Social Media Working Group.

Social Media as an Emerging Source of Cyberthreat

Let's Talk Payments

Cybersecurity Insights Social Media Asia Europe insights USThe cost of data breaches is expected to reach $2.1 trillion globally by 2019 In 2016, cybercrime cost the global economy over $450 billion, and over 2 billion personal records.

Why mobile social media money transfers are going to be huge

Mobile Payments Today

FIs and payment processors have a major opportunity to collaborate with FinTech pioneers such as Moneymailme to serve the growing market for mobile social media money transfers

Social Media Policies: Four Steps to Effectiveness

ForwardBanker

As of March 2018, there are more than 3 billion social media users worldwide. The post Social Media Policies: Four Steps to Effectiveness appeared first on Deluxe FS. Regulatory Compliance engagement marketer marketers Marketing Social Media Technology websiteNote: Nothing in this post is legal advice and should not be construed as such. It’s a certainty that at least some of those users work for your organization.

German Spy Agency Says Regulation Of Social Media Firms May Be Necessary

PYMNTS

The intelligence agency in Germany implied on Monday (May 14) that more regulation may be applied to social media companies if the European Union can get them to increase their accountability for spreading illegal and dangerous content. Reuters reported that the German intelligence official Hans-Georg Maassen said the European Union is working to get social media platforms to increase their transparency and consciousness.