Oct 27, 2009

TwitPay, The Sweet Tweet of Money

Those who say social network in turn say, (or will say), social commerce since conversation and commerce are interlinked, even if there exist many different types of commerce.

Can Twitter, the quintessential conversation platform, also become a commerce platform?

TwitPay, launched in November 2008 as a payment solution between Twitter users, is betting on it.

TwitPay presents itself as a way to transfer money from one user to another.  Its strength is its simplicity.  All you need is a Twitter account and…….a PayPal account, because the second asset of TwitPay is that it works with PayPal and, therefore, benefits from its user base, its security, and its credibility.

To make a payment simply send a tweet.

Nevertheless TwitPay has not shown huge growth and only has a few more than 5100 followers, (you must follow TwitPay to have an account).

The main reason is that TwitPay can currently only carry out hypothetical transactions between Twitter users, since there is no organized supply market currently on Twitter. 

Also, your account risks looking like this:

However, let’s take the gamble that commerce will develop on Twitter and that TwitPay, which takes, in addition to the PayPal commission, only 5 cents (1 nickel) on all transactions less than $1, will find its place, if it lasts until then.
While waiting, here is the “tweetflow” of TwitPay happening simultaneously as I’m writing.

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