Facebook Plans to Add In-Store Payments to Chat App Messenger - Research and Markets

29 Mar, 2016, 08:23 ET from Research and Markets

DUBLIN, March 29, 2016 /PRNewswire/ --

Facebook is reportedly planning on adding a new feature to its chat app Messenger that will let shoppers buy products from within the app. The plans were found inside the app's software code and, according to a report from The Information, it includes directions for users to "pay directly in Messenger" when you pick up an item in the store.

     (Photo: http://photos.prnewswire.com/prnh/20130307/600769 )

The rising adoption of tablets and smartphones across the globe is allowing retailers and merchants to integrate mPOS into their payment process. Facebook lets a number of retailers use Messenger to provide customer services, but not for paying for actual purchases. It appears this may be the company's next step, with reports projecting the global mPOS market will grow tremendously at a CAGR of 50% by 2020.

But this isn't the only new feature the company is said to be working on. The social networking giant also plans on introducing in-app advertisements between users and businesses. In-app advertising is a recent trend that has proven to be an effective means of advertising due to its high visibility. A large number of individuals use Messenger on an everyday basis, which offers an ideal platform for marketers to promote their products. The in-app advertising market is projected grow at a CAGR of 39.97% over the period 2015-2019.

Messenger is also experimenting with artificial intelligence programs that will interact with users. These "chatbots" will help users with everything from shopping to booking a restaurant. This is another booming market for Facebook to invest in, with the rising demand for intelligent systems expected to propel the growth of the market in the next five years to 5.05 billion by 2020.

For further information on this topic, and a full list of all related documentation, please visit the M-Commerce section at http://www.researchandmarkets.com/rm/NKNQ.

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Source:http://fortune.com/2016/03/28/facebook-messenger-stores/

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