Optimizing the Social Payment Experience
Michael Vaughan, who was the 4th employee at Venmo says: “It’s not about optimising the transaction – it’s about the experience around it and the payments story.”
Kahina Van Dyke adds: “A couple of years ago, no-one understood the social aspect of payments. But actually, every payment has a story and a concept, whether you’re donating to a charity or sending money to friends.
“Payments is a conversation,” she continues. “We believe that [Facebook] messenger is great, and there’s so much social context. Consumers are already interacting with businesses through messenger apps today.”
Eagle Yi added that people aren’t downloading as many apps, but instead, spending more time in messenger apps such as WeChat and WhatsApp. A total of 600 million users WeChat to connect with friends, send money and utilise the social context of payments.
http://www.bobsguide.com/guide/news/2017/Oct/25/money-2020-day-three-deregulation-of-the-payments-industry/