Amex has announced that its’ payment service platform partnership with Twitter is now a full-fledged service. This latest partnership between Amex and Twitter has been in the works since March of 2012 when the “hashtag-to-save” program was first introduced on a limited basis.
The new Amex syncing app joins the ranks of “tweet-to-pay” platforms that are already offered by the social network thanks to outside developers that have lead the way for making Twitter a true e-commerce platform. The most visible of these outside apps has been Chirpify that was launched over a year ago as a way for certain brands to enable their customers to tweet payments. By allowing the user to pay via card or PayPal, the app features not only being able to pay for goods but person-to-person payments and making charitable donations.
It’s reported that Amex Ventures approached Chirpify about investing but later decided against it as they viewed the startup business as competition. Chirpify took that as a compliment and welcomes the competition.
The original Twitter payment platform, “Pay with a Tweet” was launched in 2010 to show the combined value of promotion via social media with easy ways to pay. While the app doesn’t use traditional currency, it does provide selling leverage. Content producers place an item and Twitter users gain access or “buy” the item by making tweets about it. This not only sells the content but creates a social buzz as well, upping the item’s popularity. The idea is the same with the Chirpify and Amex/Twitter systems- being able to access a product while spreading the news. Basically, exposure is money.
The new system is doing quite well with over 3.5 million transactions so far. Although the application is still in somewhat of an experimental stage due to the limited items you can buy and the necessity to be an AMEX card holder, it seems like there is definitely a move in the works to expand which while it may seem a risky move for Twitter can only be seen as AMEX’s way to expanding its digital compatibility. The limitations of the current app stand to hold Twitter developers back if they do truly plan to create an in-house payment system. This is especially true as the social network has a reputation for being a not so gracious host to third party developers. They definitely have a long way to go if they plan to truly join the world of e-commerce.