Social Media Turns to Finances

venmo1

One of the advancements that social media has brought us now is a form of sending money to friends with just a couple clicks and swipes through the Venmo app.  This app brings with it a solution to a problem that we have all experienced at one point or another, when you are out with friends and everyone wants to make sure they have paid their share or if they are covering someone else that they get their portion.  Apps like this make me think about the many different aspects of our lives that social media has affected in recent years, and how these types of services have changed the way we live and interact with each other.  This may not seem like a traditional social media type of service similar to the other things we have seen and discussed this semester, but I include it in that category because of the user interface and connectivity to other social media platforms.  Like many apps it uses your Facebook account to get all of your information and friends.  In the screenshot below, you can see the home page of the app that shows several recent transactions.

venmo example

There is an option to make your transactions private, but as you can see above there is a fair amount of transparency that makes it somewhat of a social media platform.  I personally tend to make my transactions private because I don’t see the need for others to see everything, but it’s interesting to me how many people choose to share.  This makes me think that we could be potentially approaching the territory of too much of a good thing becoming more of a detriment than anything else.

Could there be any issues with people sharing too much information?

Where does individual decision making and solid regulations around things like this come into play?

Just a few thoughts as social media continues to cross paths with convenience and technology.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

One Response to Social Media Turns to Finances

  1. sydhavely says:

    Well done and apt post, Mike.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s