As can be seen in today’s world, social media surrounds us and has become a big part of our lives. One of the most used social media sites is Facebook that also incorporates an integrated payment system within it. Online businesses can truly benefit a lot from the way this social site has encompassed and brought people together along with promoting eCommerce through its multiple payment options.
A number of payment companies are now partnered with Facebook, some of them being:
- Ultimate Game Card – which is facilitating users who wish to pay for online gaming and credits.
- Spare Change – which helps in making payments via PayPal and major credit cards.
- DAO Pay – which is a service that allows you to make convenient payments through your home phone bills.
- Amazon Payments – which provides easy online transactions to users; etc
Some other partners have also joined Facebook over time, including Offerpal and Tapjoy; both of which have greatly benefited from the eCommerce capabilities and online gaming options provided by the social website.With time, Facebook’s online gaming has developed and Tapjoy has helped evolve the gaming from online to mobile gaming by becoming partnered with iOS and Android; offering a large variety of games to every Facebook user.
The developing payment systems of Facebook can be beneficial for all online businesses. With this social site providing you the platform you need to promote your business; you can integrate your online transactions so that your customers can browse and buy from your online store via some of the payment systems used by Facebook.Using an integrated mode of payment, such as Spare Change, Amazon Payments or DAO Pay; many Facebook users are game enthusiasts who are using real money to buy Facebook credits to progress further within various gaming applications.Just as online and mobile gamer’s are requested to purchase Facebook credits in order to play certain games or to unlock premium items and levels in the games; you can set up a virtual credit system, allowing your customers to earn Facebook credits in return for their purchase.In this way, you can sell products from your online store by focusing your marketing promotions on a virtual credit system.
Social sites like Facebook have become worldwide communities where people gather to converse with others and make discoveries. As a result, online business communities have also increased considerably and businesses are influencing one another with regards to the products to e sold and the marketing strategies to be used.Hence, even if we look at it from a Business-To-Business (B2B) perspective, Facebook is bringing new ideas and awareness within the business world.
With every new trend and development that comes into our world, there are some people who will always oppose it. Reaction to the Facebook phenomena is no different. There are many people who love to ‘like’ or ‘share’ their interests, including the companies or stores they visit and purchase from. This data allows companies to rack their consumer demands and can reveal a lot about the success of their business. However, many people feel that it is an invasion of one’s privacy if their interests are so easily viewed by respective companies. however, there are occasional protests and a number of legal challenges that Facebook needs to clarify. However, regardless of those against these measures, there is still a huge population of Facebook users who will continue to ‘like’ and ‘share’.
Thus, as an entrepreneur of your online business, you should give social media the importance where it is due; using Facebook and other forums to benefit Business-To-Business (B2B) and Business-To-Consumer (B2C) relationships.