This infographic looks into why some social platforms are well positioned to offer their own payment services.
Clocking up an average of 2 ¼ hours of consumer attention per day, social media services are increasingly becoming the main platforms for daily activities. That includes entertainment, or in this case, commerce and transaction-related activities.
In some Asian markets where consumers devote the longest periods of their day to social media, popular social platforms have become so ingrained in daily routines that consumers are now comfortable with using them as a way of paying for products in-store and online. The most notable example of this is WeChat Pay in China, but messaging services Kakao and LINE also enjoy strong usage as payment services in their respective regions.
Infographic source: Globalwebindex.
Clocking up an average of 2 ¼ hours of consumer attention per day, social media services are increasingly becoming the main platforms for daily activities. That includes entertainment, or in this case, commerce and transaction-related activities.
In some Asian markets where consumers devote the longest periods of their day to social media, popular social platforms have become so ingrained in daily routines that consumers are now comfortable with using them as a way of paying for products in-store and online. The most notable example of this is WeChat Pay in China, but messaging services Kakao and LINE also enjoy strong usage as payment services in their respective regions.
Infographic source: Globalwebindex.
