Facebook Payments & Amex

Note from the CEO:  It seems that American Express has had an “aha” moment and realized there may be some synergies between them and Facebook’s Messenger.  Yeah, like 1 billion monthly synergies. Lets’ get those “synergies” using their AmEx cards and make it really easy too.

The world’s biggest social network (Facebook) has quite a bit of new and interesting things going on such as Messenger, which is becoming a formidable competitor in the payment space. Now AmEx is adding a feature to allow their card holders to make purchases in games and on shop sections of business pages of Facebook. Payments to their peers via Facebook Messenger will be a seamless experience thus allowing AmEx to tap into over 1 billion monthly users and most likely increasing American Express’s credit card market share. Things are moving fast in the payments space.

“Facebook lately has been capturing both media’s and my attention. It is not surprising though since interesting things and developments are happening in the world’s biggest social network (just a reminder: Messenger alone has more than 1 billion Monthly Active Users).

Of course, my interest is from the financial point of view. Thus, this brings us directly to Facebook Messenger and payments.

Very recently American Express has introduced a new feature to its AmEx bot in Facebook Messenger. From now on individuals having an AmEx card can add it to the messaging platform, and hence make purchases on the social media website.

The most important point – seamless experience.

This feature will allow AmEx card holders to make purchases in games and on shop sections of business pages. To add, they will soon be able to send payments to their peers via Facebook Messenger. The most important point to stress is the seamless experience – all will be done without a need to leave a common environment of Facebook or Messenger itself.

It is important to stress that prior to the “card” feature AmEx’s chatbot was quite useful – users could get notifications about their balances, as well as benefits and recent purchases. But the KEY function, payments (=usage of the card), was missing.”

Source & Full Story at  Linkedin Pulse-Linas Beliūnas