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Facebook CreditCard – think crazzzyyy!!.

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The Technology Advancement we see outside Progresses  at a very fast rate,  even before we blink our eyes!!…Its just that people come up with some feakky idea….and use all possible means to persue their dream and benefit a billion odd people…

So what am I referring to ??

We all have heard about the tie-ups that Mobile companies have made with the Credit Card service providers..

To name a few :

– The company SQUARE  made a tie-up with Apple

–  The company Paypal acquired another mobile startup firm FIG

But the Question is Why??

The answer is pretty simple, these companies(like SQUARE) provide a small credit card reader that gets attached with the Smartphones(like Apple-iPhone) so that people dont have to carry a separate Credit card for utility purpose!!

The Smartphones also work out to be the best for people on the move…be it the 3G technology, payment accept of goods and services that boosts the small scale industries from availability and scalability perspective.

But the Question thats still haunting is “Where’s this Facebuk CreditCard funda!!”

Well..a very simple example is :

Whenever we BUY a product online using credit card from ebay/amazon/rediff we furnish our identities to be stored in the repository. So from a analytic front it can actually help the company to study the mind of the customer and its taste for any future suggestion and prediction.

Now , correlate the same feature with the weekend shopping we do by swiping-in our Credit Card (in BigBazar, Spar or any other Mall/Store) in person. We hardly give our personal identity details and moreover its not even possible to collect this in a big gathering near the counter.

But the demerit with the in-person purchase is…we dont keep of track of which customer visited us, made a shopping of  a big amount or any identity details though these Stores/Malls spend a lot of money on resources/marketing/ ad campaigns and bringing these users.

Here is where Facebook can pitch in!!

i.e Facebook or any partner providing a CreditCard just like any other bank in a boutique/kiosk. and for every purchase you do in the Store, it “Likes” the merchant/business in facebook portal to get engaged digitally.

Yet it looks very catchy..”Why do i need to give all my identity details

Very true, so for any private purchase, you can just use your other cards….And for the favor you are extending using facebook card – the company can offer some gift/vouchers/discount/points/cash-back etc  to please the customers.

It can really help a lot…in getting to know the customers personally and understanding their tastes/likings to provide the best in class services. It also gives s “FEEL-GUD-FACTOR” for the customer.

From a Management perspective they can deep dive into the info based on the “Like” updation to see the trend of the customers, competitor edge and many more reports/analysis/strategy calls!!!

In simple words “It also works out as a CRM – Customer Relations Management Tool for the Stores which can hardly think of investing on a CRM based product!!…but can still contact their customers online via Facebuk!!”

This is just a wild thot!!!….u never know people may come up with a another BUZZ work “Social Marketing“, “Social Cards

The above idea/thought is just based on one of the online article and posts. Nothing specific to any organization or person.

Happy Learning 🙂

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