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08:59 14th January 2011
Many more users will start using social networks as platforms for monetary transactions this year, according to Justin Cooke, chair of the British Interactive Media Association.
"We are fast becoming a nation addicted to checking in, following and snacking on social media snippets while on the move, further deepening the intimate relationship we already have with our mobile devices," Mr Cooke said.
The expert went on to say that this year will see commerce via
social media "come of age".
He attributed this increased popularity to large brands creating social transactional applications.
Mr Cooke also said users will get used to using these sites for cash transactions as opposed to only using them as social media tools.
Separately, Twitter CEO Dick Costolo said in an interview at the Consumer Electronics Show 2011 that over 40 per cent of Twitter posts are made from mobile phones, with the growth being attributed to the popularity of official Twitter apps for handsets.
Posted by Derek Oldman
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