Is Twitter On Its Way to Becoming a Social Shopping Platform?

Twitter is reportedly in talks with Stripe to enable payments, which could turn the platform into a powerful hub for social shopping.

social shopping

social shopping

Recode has been reporting that Twitter is in talks with Stripe, a payments and checkout API company. The purpose of these talks is to bring a “buy” button to Twitter, allowing users to make purchases right from their feed.

Jason Del Rey, senior editor for Recode, writes: “Businesses that want to sell products or services within tweets are being instructed to sign up with Stripe to process payments on their behalf. While Stripe is believed to be Twitter’s only payments partner now working on the e-commerce business, it’s not clear whether that will remain the case over the long haul.”

While this may smack of the rumor mill at work, Twitter has been looking for ways to increase monetization and to provide better tools for businesses. Twitter has analytics tools for marketers, and users can already make Amazon purchases with a tweet. A “buy” button that allows direct purchases is a logical step to take.

Social shopping and e-commerce are growth markets. In fact, e-commerce could be a $370 billion industry in just three years. If Twitter is able to get in on the ground floor — which it seems to be working on — then the company could become an early leader in the social shopping field.

If Twitter wants to gain and sustain long-term profitability, it will have to diversify the platform into areas that were previously untouched. While it’s difficult to trust the rumor mill, it would make a lot of sense for Twitter to give users a one-click solution for buying the products that appear in the ads in their feed.