Social Commerce solutions are a form of electronic commerce using social media to assist in the buying or selling of goods and services. This type of commerce utilizes user ratings, referrals, online communities and social advertising to facilitate online shopping.
The solution provides an avenue for consumers to conduct transactions over social media applications as a value-chain extension for social commerce use-case where discovery of products happens in the chat platform itself. This streamlines the time taken for the payment process, saving time for the consumer, reducing the time taken for product discovery to payments from 15 minutes to less than a minute and allows firms to receive payment almost instantly. This improves customer satisfaction and improves reconciliation of online sellers and small businesses.
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