Past rumors have indicated that Twitter might launch a service that allows users to purchase products without leaving the site. Now sources are saying that this plan will, in fact, be implemented with the help of payments startup Stripe.
The social media site partnered with Stripe to integrate a “buy” button in tweets. Businesses will be able to sell products directly from tweets, and consumers can enter their payment and shipping information to make purchases without leaving Twitter. Other sites like Polyvore and Amazon have already been experimenting with similar ideas. Polyvore has been allowing users to purchase brand-name products for years, while Amazon has begun to test the waters with #AmazonCart on Twitter. Users can reply to a product link with the hashtag, which adds the item to their shopping cart.
Previously, Twitter relied on sponsored tweets (i.e., advertising) to make money. But shifty share values do not happy investors make. According to CNET, “Twitter’s first earnings reports earlier this year raised concerns about decelerating growth.” So, unsurprisingly, Wall Street wanted a little more than just ads. What Stripe can do for Twitter may make more cash for the social media company and for their investors.
Stripe creates software that aids businesses in different sorts of payments, whether on a website or in-app. This is another huge deal for the company. In June, Stripe announced that they were working with Alipay, a popular digital payments service in China. The partnership would allow Western businesses to offer Alipay as an option for their customers.
The service is supposed to launch by the time the holiday season rolls around, allowing Twitter and affiliates to rake in those holiday sales.
