2014-01-17

Co.Labs

Twitter Gets Serious About Social Shopping

Twitter will reportedly allow shopping and payment directly from your timeline.



Have you ever scrolled through your Twitter feed and spotted that shiny, must-have new gadget? Next time, you might be able to just click "Buy," thanks to a new deal between Twitter and payments startup Stripe.

The two companies are reportedly in the midst of cutting a deal to make a one-stop shop for social e-commerce according to Re/code, but the pair has yet to reach a final agreement. Details on the deal are few, but the purpose of the arrangement would be for Twitter to add "shopping network" to its list of use cases. The rumored functionality would allow retailers to accept purchases from inside the tweets themselves, making a more efficient market for advertisers who could see instant sales and eliminate extra clicks between the social network and their retailers' websites.

Stripe, backed by $40 million in funding, allows companies to accept payments on websites and mobile apps with its developer-friendly APIs. It allows purchasing without having to set up an online account and its clients include popular ride-sharing company Lyft and e-commerce platform Shopify.

Twitter has been trying its hand at e-commerce for the past couple of years. It partnered with American Express last year, which allowed cardholders to buy certain products with a tweet and bill it to their AmEx card. Other startups like Dwolla have explored similar functionality with limited success.

[Image: Wikipedia]