Finance & Economics

European bank enables retailers to run business on social networks

Since a lot of businesses had to close their physical stores, they are trying to shift to online mode


European bank enables retailers to run business on social networks. Source:

Spanish CaixaBank has launched the technology that allows retailers to sell their products through social networks, as well as, messengers. The technology aims to help merchants whose businesses have been hit by COVID-19.

The bank’s Social Commerce service enables retailers to carry out purchases right through their Instagram, Twitter, Facebook, Telegram, WhatsApp accounts.

In order to sell something, the merchants have to take the photo of the product and fill in the description details. Afterward, Social Commerce service generates a link that directs a purchaser to the payment instructions.

As to the customers, if they want to buy something, they choose a product and then get a notification within a social network or messenger offering to make a purchase. In case they agree, they can just click on the previously generated link to pay for the stuff.

After the seller gets notified about the successful payment, he starts managing the product’s shipment.


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