Social networks and fintech: Why it pays to be mobile

Very nice article about the future of mobile payment and how mobile payment will integrate with other (social) networks.


If there was ever proof – if proof were needed – that social networks are becoming the de facto Internet browsers on mobile, the latest flurry of fintech news confirms it.
In two separate announcements, Facebook’s platform is lending itself to mobile banking through a wire money trial in Singapore in 2017 and the launch of a banking messenger bot in conjunction with Barclays in South Africa in 2016.
In both cases, customers whose Facebook (and also in both cases Twitter) accounts are linked to their mobile numbers will be able to make money transfers. In the South African example, the service uses a bot to let customers check their account balances, find ATMs, contact the bank as well as make payments, all without leaving Messenger.
The bot is also linked with Masterpass, the Mastercard digital wallet….
Read the entire article from ITProPortal here: Social networks and fintech: Why it pays to be mobile


If you liked the post, please share:

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *