Instant Messaging Apps to Become Another Payment Channel for Retailers, Says Juniper
Future in-app payment capabilities will let retailers extend their omnichannel strategies into the instant messaging space, reported Juniper Research Tuesday. The number of instant messaging users in 2020 will rise 9% year on year to 4.3 billion, largely due to…
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increased remote communications during the COVID-19 crisis, said the research firm. Growth beyond the pandemic will be driven by integrated payment services in instant messaging apps, it said, as developers partner with payment gateways to offer in-app payment capabilities. Retailers will capitalize on the established user base of instant messaging applications from WhatsApp, Facebook Messenger and WeChat as an additional retail channel, said Juniper, providing services including payment authentication and processing. The number of smartphones equipped with rich communication services (RCS) will grow by 45% year on year in 2020, with over 740 million smartphones, 16%, using RCS services by year end, it said.