By Mohammed Waseem
The world of payments has ever been complex. In the recent times, this complexity has eased and sending money has become simple; thanks to the recent innovations in the payments space. Many companies have come up with innovative solutions to address to the payments problem. Most of these companies address the local payments problems, except for a few international money transfer services like Western Union, Xoom and MoneyGram. However, they can still improve their services in this area.
Other companies who have been addressing the local problem need to think about expansion. Ribbon is an American company that has introduced innovative methods to simplify the lives of the people. They offer a way to make payments on social media platforms such as Facebook; this is so simple that people can buy merchandise right from their Facebook News Feed; they call it in-stream payments.
The general purchases on Facebook happen through an advertisement targeted at a specified segment, who click on a link that takes them to the advertiser’s website and they make the purchase decision. Ribbon has taken a step ahead by letting the users buy merchandise right from their News Feed. This amazing feature was available in Twitter apps as well, which allowed users to buy without leaving the app, but Twitter decided to disable this feature for some reason. So, all clicks would redirect to the Ribbon.co website.
Merchants can sell their products on Facebook and attract users from all around the world to enable them to directly buy products from their News Feed. Mobile Payments Today reports that anyone who intends to sell something can setup payment acceptance that can be embedded as a ‘Pay Now’ feature into a Facebook update.
Merchants can accept credit cards instantly with no setup fees or monthly fees. All they are charged is 2.9% + $0.30 per transaction. All the merchants have to do is signup, add products to Ribbon, embed YouTube previews if required and add an optional ability to let the buyers name their own price. This generates a unique link that can be shared on Facebook, Twitter, YouTube or even the merchants’ own websites. The products can be anything from physical goods to digital products and services or even donations and event tickets.
The service can be tries at https://o.ribbon.co/ under the ‘Create’ section and the interested merchants can sign up here. The service is available to sellers across the globe and the money is deposited to an US bank account via wire transfer or a check is sent by mail; alternatively, it is sent via PayPal.