Alexander metelev
The end of the business accounts era? The consequences of the Instagram payment system implementation
Do you do business in Instagram? Here is important news for you.
Selling and buying on Instagram is convenient. To do your own business on this network, you do not need to spend much and effort - just sign up a business account, fill it with posts advertising your goods or services, promote your page and wait for customers. Very few actions, but the result is excellent: the buyers reach out even to those businesses that offer very extravagant products. In a word, not a photo hosting, but a whole paradise for small business. So it was until May 4, 2018. On this day, a new function appeared on Instagram, the release of which passed almost seamlessly. At first, even the largest media, specializing in online services and new technologies, did not write about it. However, the innovation was not left unnoticed by the users, and therefore the mass media started to vigorously publish news with similar headlines right on the next day - "Instagram launched its own payment system".

What is the core idea of the changes?
It turns out that the Instagram team hasstarted working on the new function since the end of 2016. Representatives of the service have long noticed the popularity of the network among business representatives and have begun to take steps to improve their service and its adaptation to the needs of entrepreneurs. The built-in payment system is the first step on the way of turning Instagram into a popular business platform. The resource application now adds the ability to pay for goods and services right inside the network itself. To do this, users do not have to go to the site of the seller of goods or services or write them a personal message to Direct and request details for payment. It's simple - find the right product, choose it and pay for it directly to Instagram. Representatives of the network assure that soon users will be able to order tickets to the cinema or to the plane, book tables in restaurants or buy any goods in online stores through their application.

How does the system work?
Payment for goods and services through Instagram will be made through the user's bank card. It can be tied to your account in the settings of your page, while the data will be reliably protected from hacking by scammers. So far, the Instagram payment system is working in test mode. It is available only in selected regions of the United States, and there are no official next steps for its wide launch around the world at the moment. The administration of the project assures that they plan an early release of the update for users of the whole world, in which there will be an option of binding their bank card.

What will this innovation lead to?
Thanks to the introduction of its own payment system, Instagram representatives will most likely address the representatives of big business, who will sell their products directly in the application. The benefit from this is obvious - the target audience is already available, and the method of payment for goods is very simple and does not require any commissions. This means that representatives of small businesses will have to compete with more powerful rivals in their field.

What is the future of business accounts on Instagram?
Alas, but most likely owners of business accounts that sell their products or services through Instagram will experience difficulties with their business. The competition will increase, which means that the flow of customers is at risk. Therefore, it is time to think about the prospects of your business on Instagram now - before the most popular photo service of the world turns into an equally popular business platform.

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