In 2015, 96% of the world were using some form of social media to promote their product, nevertheless in 2017 2.8 billion are active users of social media around the world. The world we live in today revolves so much around phones and social media that without these two the market would out of sync. So much of today's ads are on some type of social media account, in fact, 95% of social media users between the ages of 18-34 are likely to follow the brand on a social media network. As you notice a tremendous amount of today's market revolves around this era of technology, we refer to as social media.
Social media is one of the largest boosts in the market, primarily due to the rise in mobile devices such as a phone or laptop. 7.2 million devices …show more content…
PayPal is an method of paying when shopping online, little do you know they make profit off everything bought. There are two ways PayPal makes a profit, the first way is the fees they charge to a payment recipient. Although most transactions are free, merchants pay a fee for each transaction. The fee is usually thirty cents plus a 1.9% to 2.9% surcharge fee. This is also the same way with credit card companies. Visa and Mastercard typically make 0.11% per transaction when a card is swiped or the chip is entered . The remaining % goes to the merchant's bank and the shopper's bank. More % goes to the shopper's bank since they'll lose money if the shopper defaults on their credit card payment. Another popular method of money per transaction is Venmo. Venmo is used mostly for people who fail to have cash on them and need a friend to loan them cash, or perhaps just pay them for a good or service. Venmo makes money per transaction just like a credit card, charging a 3% fee for using a credit card. Social networking has an enormous part in this too, because of a business called GofundMe. GofundMe is a ad that someone makes to basically ask people for money. However, people are allowed to use any method of payment online. The social networking for online transactions is not much, but it is however still used often believe it or not. Another popular form of social networking that has taken off is soundcloud and apple music or iTunes. Soundcloud is a place where people put out there own music in which anyone can listen to. This is often shared through Facebook, twitter and instagram. When any social network platform gets a hold of this it spreads like and wildfire, if it’s catches the right person’s ears. If he/she is seen a music producer or company will sign him/her to a contract. The producer, produces the song and puts it out to where anyone can buy it. Apple, Spotify, and Pandora pay between 6 and 64
Social media is one of the largest boosts in the market, primarily due to the rise in mobile devices such as a phone or laptop. 7.2 million devices …show more content…
PayPal is an method of paying when shopping online, little do you know they make profit off everything bought. There are two ways PayPal makes a profit, the first way is the fees they charge to a payment recipient. Although most transactions are free, merchants pay a fee for each transaction. The fee is usually thirty cents plus a 1.9% to 2.9% surcharge fee. This is also the same way with credit card companies. Visa and Mastercard typically make 0.11% per transaction when a card is swiped or the chip is entered . The remaining % goes to the merchant's bank and the shopper's bank. More % goes to the shopper's bank since they'll lose money if the shopper defaults on their credit card payment. Another popular method of money per transaction is Venmo. Venmo is used mostly for people who fail to have cash on them and need a friend to loan them cash, or perhaps just pay them for a good or service. Venmo makes money per transaction just like a credit card, charging a 3% fee for using a credit card. Social networking has an enormous part in this too, because of a business called GofundMe. GofundMe is a ad that someone makes to basically ask people for money. However, people are allowed to use any method of payment online. The social networking for online transactions is not much, but it is however still used often believe it or not. Another popular form of social networking that has taken off is soundcloud and apple music or iTunes. Soundcloud is a place where people put out there own music in which anyone can listen to. This is often shared through Facebook, twitter and instagram. When any social network platform gets a hold of this it spreads like and wildfire, if it’s catches the right person’s ears. If he/she is seen a music producer or company will sign him/her to a contract. The producer, produces the song and puts it out to where anyone can buy it. Apple, Spotify, and Pandora pay between 6 and 64