What Are In-Video Payments?
In-Video payments, to put it simply it’s a platform which allows the user to carry out online transactions without having to switch in between tabs or devices i.e. payments will be possible in the ongoing video.
IntegraPay has been the first company to adopt this technology to accept donations and online payments without diverting its users to subsequent multiple portals. In Video payments is an economical payment solution to increase the efficiency of the sales process by converting potential leads into successful sales which might be lost in the process of diversion and redirection to secondary sites.
IntegraPay offers its users a platform to explore the potential of videos as a fundraising tool and transaction medium. It has eliminated the need to be redirected to a secondary site to make donations. The In-Video payment solution can be adopted by a variety of websites and social media pages to increase their sales by eliminating the need for a separate checkout process.
In Video payments can be adopted by a wide spectrum of industries as an alternative to the conventional payment platforms. For instance, E-commerce industries can produce videos featuring their most purchased and sought after products highlighting its benefits. Such videos are bound to attract potential buyers and the availability of an in video payment option can ensure a high conversion rate and increase sales.
Similarly, the fashion sector too can explore the potential of in-video payments solution. By playing videos giving out fashion tips and presenting to the customer’s alternative styles combined with the in video payment feature to purchase those styles is likely to boost sales exponentially.
In-Video payments can also be adopted by the entertainment industry particularly through ads during movies which feature different products. If these ads are equipped with an in video payment option, viewers are likely to make more purchases from the ads as they are attracted to these products by viewing them in the movie.
Finally, Social media pages are also likely to benefit from this technology by advertising their cause through the video platform and attracting the audience. In video payments are likely to attract views to make immediate payments that relate to the cause.
Effect on Payment Industry:
In-Video payments like other fin-tech innovations, is likely to revolutionize the payment industry. Increasingly payments will be made directly through videos rendering not only cash transactions but also transactions through separate checkout points. Thus, it can quite comfortably be said that this medium will gain a huge positive response in the payment sector.
What can Start-Ups look up to?
Start ups are most likely to be the biggest gainers from this innovation. In-Video payments can provide the start-ups with a platform to attract new users through the video and enabling the viewers to pay during the video will increase sales. The medium of videos will help the startups gather a wide audience and the in video payments option is likely to turn this passive audience into active users and consumers, thereby creating a large customer circle loyal to the services provided by the start-up.
In a nutshell, it is safe to say that in video payments will be the future of the payment industry. Not only are in video payments likely to boost sales exponentially but also save plenty of time which is generally wasted during separate checkouts through secondary web pages. Thus, In Video Payments should be integrated by any sector which aspires to grow by leaps and bounds.
We at Recro, provide end to end IT services and have served various startups in the FinTech, Entertainment, Fashion, IOT, Social, Automotive, healthcare domain. The team has deep experience in building platforms for Lending, P2P, Insurance comparison and Stock Market trading apps. If you also have an idea that you want to develop, do drop us a mail at: firstname.lastname@example.org