Not too long ago, Facebook made it so that people could use their Visa or MasterCard payment methods for peer-to-peer transactions. Now PayPal is jumping into the mix in a way that will make mobile purchasing easier than ever before — but this time it is for consumer-to-business transactions.
PayPal will now be one of the accepted payment options for making purchases with the Facebook Messenger app. Users who take advantage of the growing number of chatbots used by merchants will now be able to use their PayPal accounts to make these transactions. PayPal will make it much easier to link your account to Facebook and Messenger. This ease of use will continue through your entire transaction, as you will be able to manage your transactions and your receipts all within the app. At first, these features will only be available to users in the United States. PayPal is currently trying to figure when and how these integrations will be made internationally, but there is no time frame for this expansion.
Big Opportunity for Business
PayPal has about 192 million active users. Facebook Messenger currently has about 1 billion active users. PayPal is hoping that they can add more of those 1 billion Facebook Messenger users to their list of active users. With the ease of use that this integration will create for those PayPal users, more and more people will feel inclined to give it a try. For merchants who accept PayPal transactions, this is an opportunity to gain a lot of new customers.
“I really like the integration, very smart decision! I feel that so many people are on Facebook and the ease of use to send / receive money will be well liked. From an expense perspective, I can pay local vendors and send money to my employees for quick purchases. I’m starting a marketing company that will coincide with my real estate business, the Facebook & PayPal partnership will be my primary means of sending & receiving payment. Again, it just goes into the ease & convenience.” – Ronnie George, Realtor at Keller Williams Realty
The use of Facebook’s Messenger bots has never been more appealing for online merchants, who can use these bots to reach out to anyone with a Facebook and PayPal account. There are already plenty of businesses who use Facebook to communicate with their customers. Why not allow those customers to connect even more by making purchases directly through Facebook?
“Since Facebook announced the changes to the Messenger Product all of our developers have been watching closely for the ongoing developments. One of the projects we have ticking over slowly is to build a Messenger Bot which can help customers with their queries and eventually purchase goods. Opening up the platform to PayPal who already see 1 in 4 of all online transactions is great news for retailers looking to make use of Facebook’s Messenger Bots and without a doubt will increase conversion rate.
We’re excited for the future and where Facebook will take this. How long will it be until customers can buy products directly from a paid advertisement or a post on a page without having to leave Facebook? As a retailer, we’d naturally prefer to pull people onto the site for the brand awareness and the direct touch point with the customer but if Facebook keeps building their ecosystem so that a customer never leaves then we won’t have a choice but to stick with the times and adopt it.” – Job Brown, Web Team Leader at Wooden Blinds Direct
Mobile commerce is on the rise. No one is running home so that they can make a transaction on their laptop or desktop anymore. If they see a product they like while browsing Facebook on their mobile device, they are going to want to purchase it right away if possible. As Veruca Salt in Willy Wonka and the Chocolate Factory once said, “I want it now!”. With PayPal and Facebook making it possible for your customers to quickly and easily buy products online, it will give people more incentive to buy your products if you accept PayPal.
“PayPal integrating with Facebook is another positive step forward in the evolution of mobile commerce. This will be another great opportunity for new shopping experiences that provide easier, more secure transactions. For store owners, this is going to supply a direct channel to build new relationships with millions of people from all over the world who already have PayPal accounts. As these accounts are combined with relevant buying and selling experiences, the resulting transactions will be captivating for both merchants and consumers.” – Brandon Schroth, Digital Analyst for seoWorks
Security for Your Online Shoppers
The convenience and excitement that PayPal will bring to online shopping via Facebook Messenger is without question, but the thing that people really look for with their online shopping is security. With the cyber-hacking that has been happening over the last few years with Target, Sony, and so many others, people are sometimes hesitant to trust online portals with their credit card information. Luckily, PayPal offers that sense of security that people are looking for with their convenient online shopping.
“Messaging bots are the next website/app. Having solid payment options will be critical to building robust solutions. PayPal is the leader in online payment technology. They have a proven track record of increasing sales when added to e-commerce checkouts. Facebook Messenger is the leading messaging platform right now. A good example of needing payment within Messenger might be to allow a customer to book an appointment with a service provider (salon, dog walker, lawn person) and pay for it all via Messenger. Having the option to pay with PayPal will help to increase the number of people willing to pay because they can trust that their information is safe.” – Daniel Ice, e-commerce expert and Founder/CEO at Bot Platform
For merchants, adding PayPal to your list of accepted payment methods will surely increase the number of sales received. Customers will love the convenience that PayPal checkout offers in Facebook Messenger, and because PayPal is known for being a secure way to make online payments, they can feel at ease knowing their information is safe.
The New Wave of One-Click Buying
Amazon has done it, and now Facebook is doing it. One-click buying is becoming a popular feature for the avid online shopper. With the integration of Facebook and PayPal, users will now have a brand new online shopping experience.
If you saw an advertisement on Facebook before, you’d have to be directed away from the site in order to make your purchase. Now, Facebook has made it possible for PayPal users to purchase items directly from a business’ Shop section on their Facebook page. The ease of use is there for the user. All your business has to do to make its products easily accessible through Facebook is to add PayPal as an accepted payment method. Don’t miss out on the opportunity to reach millions of potential customers.
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