This feature eliminates the need to jump to external browsers when purchasing merchandise, and allows you to add payment information when you want to purchase merchandise, which will make Instagram an even bigger player in the e-commerce space.
An Instagram spokesperson confirmed the news, saying that the current native payment function supports reservations for restaurants or hair salons, and that there are not many merchants that currently support this feature.
The catering booking application Resy is one of the first brands to support this payment feature. Some Instagram customers of this app have started to provide booking services. In the future, Instagram says users can make bookings for movie tickets in the app, etc. purchase behaviour.
In March 2017, for the first time, Instagram announced that it will launch a feature to directly book a service on the merchant's Instagram homepage later this year. However, it did not mention that it would provide native payment functions.
Now this payment function is only available to users in some U.S. and UK regions. By clicking on the terms of service, you can find that the Instagram Payment feature is supported by the Facebook Payment rule.
Since Instagram has a large number of quality photos and many brand owners' homepages, shopping on Instagram should become very popular and brand owners have a good reason to advertise on this platform. Because users no longer need to jump when they purchase goods and pay Beyond the application, this will result in a higher conversion rate.
Instagram's parent company, Facebook, also has corresponding actions in native payment. Not only can its chat application Messenger purchase goods, but also can transfer money between friends. It is unclear whether Instagram will allow online friends to transfer money, but since it is already possible to add credit cards or Debit cards and other payment information, it is not difficult to achieve the transfer function.
Instagram is not the only social media to see this opportunity. Another popular social application, Snapchat, also began testing its native payment and checkout functions in February this year.