The service is expected to launch near the beginning of 2014 through eight participating financial institutions.
The Payments Council has just released their latest news for smartphone users in the United Kingdom, which revealed that in the early part of 2014, they will have mobile payments services available that will allow them to send money or complete transactions via text message.
It is hoped that this will be able to rev up the smartphone transaction sector within that country.
According to the BBC, the entire process will begin as the eight banks that are involved in this mobile payments venture ask their clients whether or not they would be willing to opt into the program in 2014.
The goal is to use text messaging to make mobile payments more accessible and convenient to users.
The participating banks feel that using text message mobile payments will provide a simpler process than having to transfer money in the traditional way, as an account number will not need to be provided. Instead, a phone number will be used, which is much easier for the user to remember and is considered to be more manageable.
Though this is will be the first time that a service of this nature is launched in the United Kingdom, the technology is not brand new. M-Pesa is already offering text based mobile payments in a number of different African countries. This is because it is available in the majority of cell phone devices and it allows funds to be transferred quite quickly.
The Faster Payments service will be managing the mobile payments of this nature in the U.K. In 2012, that company processed 800 million banking transactions, which suggests that they will be capable of handling the necessary volume.
It is expected that the users who will find the text mobile payments to be the most appealing will be those who have feature phones as opposed to smartphones, and who are therefore not able to load wallet and mcommerce apps. Also predicted to enjoy this technology will be individuals who want to use their devices but without having to manage their account numbers in order to do so.
Facebook Graph Search introduced as new search function
Facebook’s search function has never been something to write home about, which is why the social network has decided to make significant changes to the feature. The social network has launched its latest development, called Facebook Graph Search. The new feature is meant to change the way users find information via Facebook by giving them the opportunity to search for specific keywords and control the parameters of the search itself. While this may be a nice change for casual users, this could be a major boon for advertisers and businesses.
Facebook Graph Search opens new possibilities for marketers
Facebook Graph Search is designed to provide users with real time information based on their association with other people and organizations within the Facebook network. The major feature of the new search function is the use of keywords. These keywords will allow users to localize their searchers, finding only the information they really want to see. Casual users are likely to find some degree of benefit in using the new search function, but advertisers may benefit the most from the changes Facebook has made.
Location-based marketing could be supported through new search function
Advertisers can use the Facebook Graph Search to better target their audience. The search function will put a great deal of information at the finger tips of marketers and other organizations interested in reaching out to particular demographics. This will allow advertisers to develop location-based marketing strategies based on the information that can be found through the Facebook Graph Search. The new search function could soon become a very powerful tool in a marketer’s advertising arsenal.
New search initiative may net Facebook healthy gains
Reaching out to consumers in an effective way is a practice that continues to evolve. Facebook has paid attention to the way consumers have changed over the years to become more reliant on social media. Social networks, like Facebook, traffic a great deal of information on a daily basis, much of which can be used by an advertiser to connect with a certain audience. Thus, Facebook has begun to take steps to cater more toward advertisers, which may provide lucrative incentives for this information in return.
