Polls / September 24, 2013

If you could make bank payments via Facebook, would you?

Few respondents to the latest eZonomics online poll want to make payments via Facebook, with only one-in-ten saying they would if the option was open to them.

I prefer a more traditional approach
Social media is revolutionising the way many people keep in touch with friends and family. But is it also changing the way many people pay for goods and services, or how they manage their money? It seems – for now, at least – payments via Facebook are not in demand.
The results of this poll echo those of the ING International Survey Financial Empowerment in the Digital Age. Only a third of the 12,000 respondents agreed they expected banks to make it possible to do payments through social media. This compares with 70% who agreed they expected banks to give tips on saving on social media.

But what’s the future?
While making payments on social media is not top of mind for many, demand is much higher among heavy social media users and for people aged under 35.
These groups are often seen to indicate future trends and it suggests demand is set to grow in the future.
There are already financial institutions with a “social” backbone emerging in Turkey and elsewhere – and ING is also innovating in the social and digital spaces.
So our attitudes to how we live our financial lives online might change in years to come.
Therefore, picking and choosing the best tools for your lifestyle can be a good idea.

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eZonomics team
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