Venmo me! Is money less taboo in a social economy?
Money has historically been considered a “taboo topic,” but as the Millennial generation, which grew up with social media, begins to comprise a significant portion of our economy, we’re starting to see payments become social.
Up to this point, a few apps like Venmo have been successful in mixing social with payments, but the phenomenon of social commerce is still in its early stages and the question of how it will really function and what benefits it will bring to consumers has yet to be answered. The companies that will help define this new social commerce, which has the potential to extend well beyond P2P payments, will offer solutions that adjust experiences to align with consumer habits instead of trying to change consumer behaviors.
In this session, Braintree CEO Bill Ready–whose platform powers disruptive commerce–and New York Times reporter, Mike Isaac–will discuss how social commerce is likely to evolve and which players will be the ones propelling the movement forward.
Additional Supporting Materials
- What new economic models, if any, are emerging with technological development?
- What impact do these new economic models have on people and their habits?
- Why do you think people are more open to sharing what and how they pay?
- Do you think this will catch on with generations other than millennials, or do you think it will be limited to this group?
- Did you ever think your product would become a verb? Are you surprised with the way it has caught on?
Heather Craft, Vice President , MSLGROUP
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