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Education

How big companies can provide a

complete commerce experience

Moving forward, large companies like Twitter must stay
on the cutting edge of embedded payment capabilities to
sustain a competitive edge and meet evolving expectations.
But they first need to understand the logistics and
challenges associated with adopting payment capabilities
so their organizations can provide a seamless and secure
payment experience.
The consequences of friction in the checkout process
Picture this: You're scrolling through your go-to social
media feed and see an ad for a pair of headphones your
favorite influencer swears by. You're in the market for a
new set, so you click on the linked product—but it redirects
you to a web browser.

The page takes forever to load, and the checkout process
requires you to fill out a lengthy form to create an account.
Ultimately, you grow frustrated and abandon your order.
By Peter Galvin
NMI This type of frustration in the checkout process happens
frequently (see https://tinyurl.com/bdevfcdz). In fact, 24
lon Musk's latest Twitter endeavor is bring- percent of shoppers ready to make a purchase abandoned
ing the social media platform one step closer their carts because the site prompted them to create an
to becoming an "everything app" (see https:// account, and 17 percent did so because the process was
E tinyurl.com/bdfy37cr). With the goal of provid- too long and complicated.
ing users a wide array of services and features on a single
platform, the tech giant plans to integrate peer-to-peer And with countless options available for a single product,
(P2P) and consumer-to-business (C2B) payment capabili- shoppers can—and likely will—take their business to a
ties within the Twitter app. competitor without hesitation.

Musk's plan is still in the works, but Twitter's adoption Think about the best payment experience you've ever had.
of embedded payment capabilities would enable users to If you can't recall it, it's probably because the transaction
send and receive fiat payments—and one day, maybe even was seamlessly integrated into the user journey. For
cryptocurrency. example, what if consumers could pay for products at
the spa down the street using the same app they use to
This plan follows the 2022 launch of Instagram's in-chat schedule appointments?
payment feature that allows customers to purchase goods
from businesses without forcing either party to leave their
direct messages. In addition, Facebook (now Meta) users
have been making in-app purchases for years now.
Think about the best payment
These moves by some of social media's biggest players experience you've ever had. If you
highlight the rising importance of comprehensive
commerce experiences. But while in-app payments on can't recall it, it's probably because
social media are making headlines, the trend toward more the transaction was seamlessly
comprehensive commerce experiences is much broader.
integrated into the user journey.
For instance, Instacart users who were previously
redirected to a web browser or third-party payment app
to pay for their orders can now make in-app purchases.

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