Instagram just recently added a payments feature to its app for some users. It allows you to register a debit or credit card as part of a profile, set up a security pin, and even buy items without the need to log out of the platform. This is a big improvement for Instagram especially in the area of commerce seeing as not having to leave Instagram to a separate website and entering payment information whenever you want to purchase something is quite a development.
One of our sources spotted the feature first and gave us the report. After an interview with a spokesperson of Instagram, he confirmed that native payments for booking appointments like at restaurants or salons is now live for a limited set of partners.
One of the first equipped is dinner reservation app, Resy. Some of Instagram pages of its clients now offer this native payment for booking. In the future, Instagram is saying that users should expect direct payments for things like movie tickets through the app. In March 2017, Instagram had initially announced that “we’ll roll out the ability to book a service with a business directly from their profile later this year,” however it never mentioned native payments.
We have confirmed that the payment settings some of the settings are now visible. Users in the U.S. have it, while some of the users in the U.K. do not. According to the terms of service, Instagram Payments are backed by Facebook’s Payment rules.
With its polished pictures and plethora of brands, shopping through Instagram could prove popular and give businesses a big new reason to advertise on the app. If they can get higher conversion rates because people don’t quit in the middle of checkout as the fill in their payment info, brands might prefer to push people to buy via Instagram.
Facebook began to dabble in native commerce around 2013, and finally started rolling out peer-to-peer payments through Messenger. Although, native payments for shopping is still in closed beta in the chat app. There is no certainty that peer-to-peer payments will come to Instagram, but finding a way to add a credit or debit card on file is a critical to building that feature.
There’s a possibility that the payments option will work with Instagram’s “Shoppable Tags,” which first started testing in 2016 to allow users see products in a past and buy them on the brand’s site. From thence, Instagram has partnered with storefront platforms, BigCommerce and Shopify to hook up their clients and expand the feature to more countries.