Ecommerce is one way that Twitter can open up a new revenue stream for itself. Twitter needs to generate revenue since its a public company now and investors will want to see some green on the balance sheets. Promoted accounts and tweets got the ball rolling but that’s not enough. According to new reports Twitter is going to partner up with Stripe to add a “buy” button in tweets. The button will do what the name suggests, allow users to buy stuff mentioned in tweets.
The reports suggest that back in January the microblogging network was close to signing a deal with Stripe, a payments startup, but somehow it got delayed. It looks like both parties are now ready to form the partnership, Re/code says that the plans have significantly progressed and that the ability to purchase items from tweets is “nearing.”
Once a user clicks the buy button he or she will be able to enter shipping and payment information. The aim here is to enable them to shop without having to leave Twitter. The scribe claims that many retailers, businesses and brands have already signed up for this service through Stripe.
It is claimed that the “buy” button will be launched this holiday season, which we all know is a lucrative shopping season. Twitter may choose to work with other payment companies in the future, but for now it may stick with Stripe.