Facebook-owned Instagram has added in-app payments option that lets you make direct payments from the app. First reported by TechCrunch and later confirmed by CNBC, the payments feature is currently live for some users in the US and UK.
TechCrunch was tipped off by one of its readers that users were able to register their debit or credit card details to their profiles, along with setting a security pin. If you can see the feature rolling out, you’ll find it in your profile settings under “payments settings”. As of now, there’s a limited set of partners, including Resy – a dinner reservation service. In future, it will be possible to book movie tickets through Instagram, too.
The idea behind introducing in-app payments feature is to merge with Instagram’s “Shoppable Tags”, a native integration that makes it easy to tag and shop products directly from your Instagram posts. The intent is clearly to allow businesses and brands to advertise on Instagram.
“As 800 million use Instagram each month to discover and follow their passions, more and more people are using it to connect with businesses they love,” Instagram said in a blog post celebrating reaching 25 million listed business last year.
“In fact, over 80 per cent of accounts on Instagram follow a business, while 200 million Instagrammers actively visit the profile of a business every day As a result, the Instagram community is helping spur small business growth in big ways”.
Instagram’s rival platform Snapchat recently introduced its “Shoppable AR” to its platform – a feature that allows advertisers to sell products directly through their sponsored lenses.