Social payments involve the use of social media to transfer money to another person or business. PayPal first popularized the trend, but other companies have since hatched their own versions. Let’s have a brief outlook on them.
• Venmo: Venmo was the first of many e-wallet apps to make use of social media to send payment notifications. Venmo lets users sync their e-wallet with their Facebook account and automatically converts transactions done within the app into a Facebook status.
• Facebook Messenger: Facebook’s business support angle is one of the strongest, so it’s no surprise that the social media giant has launched peer-to-peer payment support through their chat app — Facebook Messenger. The feature is still being tested and is only available in the USA at the moment.
• Twitter: Sellers simply need to Tweet about their products, while Twitter’s algorithms identify a chance for a purchase. Users can click on a Buy button if they are interested in a purchase.
Sappchat also provides these financial solutions! Our users are provided with a secure integrated smart wallet called the Sapp-Wallet. The wallet allows the instant transfer of money and cryptocurrency to anyone around the world, even in the middle of a conversation.