Now that Snapcash launched, does that imply most messaging apps will add money-sending, and should every platform do it?
Payments
Asked by Question Bot11/May/20161 answer
1 Answer
F
Faisal Khan
Answered 11/May/2016
Ten years ago selfies or even group-selfies were an unknown phenomenon. Today, it is the norm for many.
Likewise, traditional banking and payment platforms were standalone apps & ecosystems, but that too has changed (read: evolved).
One of the first things humans do when they come into contact with another human is to communicate. Hence messaging apps rule the world. Others may disagree, but this is my firm opinion, that as long as we keep modeling, i.e. juxtaposing from the real-world scenarios to the digital world, we will excel.
Humans interact (i.e. communicate) with each other before they start sharing (photos, ideas, videos, songs, jokes, etc.) and then some form of commerce factors in.
I believe those with a large user-base communication (messaging) platform, will inevitably offer payments onto their platform. Its just a matter of timing.
It is not about making sense or not, it comes down to will the operator of the communication/messaging system be able to launch it correctly.
Users do not want to have 6-7 messaging apps on their phone. They may have it, but would most likely use 1 to 3 of them on a regular basis. Same goes with payments, users would most likely settle with 1 to 2 payment solutions in their messaging apps, but what they would expect is that interoperability amongst the players would enable payments to go seamlessly across to different messaging platforms.
I think if an operator or app owner has a large enough user base, they will give payments a shot.
Likewise, traditional banking and payment platforms were standalone apps & ecosystems, but that too has changed (read: evolved).
One of the first things humans do when they come into contact with another human is to communicate. Hence messaging apps rule the world. Others may disagree, but this is my firm opinion, that as long as we keep modeling, i.e. juxtaposing from the real-world scenarios to the digital world, we will excel.
Humans interact (i.e. communicate) with each other before they start sharing (photos, ideas, videos, songs, jokes, etc.) and then some form of commerce factors in.
I believe those with a large user-base communication (messaging) platform, will inevitably offer payments onto their platform. Its just a matter of timing.
It is not about making sense or not, it comes down to will the operator of the communication/messaging system be able to launch it correctly.
Users do not want to have 6-7 messaging apps on their phone. They may have it, but would most likely use 1 to 3 of them on a regular basis. Same goes with payments, users would most likely settle with 1 to 2 payment solutions in their messaging apps, but what they would expect is that interoperability amongst the players would enable payments to go seamlessly across to different messaging platforms.
I think if an operator or app owner has a large enough user base, they will give payments a shot.